🚀$EIGEN /USDT has shown strong upward momentum with a sharp rise in price, as indicated by the large green candlestick 🚀
Current Price
$2.54
Entry Price for Trades
A potential entry could be around $2.55, just above the last closed candle to confirm continuing momentum.
Critical Levels
Resistance: $2.628
Support: $2.511
Take-Profit Targets
$2.70 (just above recent high and psychological round number)
$2.85 (assuming continued bullish sentiment)
$3.00 (key psychological level and potential area of profit-taking)
Stop Loss Level
A stop loss could be set just below the support level at around $2.50 to minimize potential losses if there’s a reversal.
Cautionary Note for Traders
Monitor for stability around current levels and watch for any signs of consolidation or breakout signals that could indicate further direction. The RSI(6) value is extremely high at 93.742, indicating that EIGEN might be overbought at this moment, which often precedes a pullback or consolidation period. Traders should proceed with caution due to this overbought condition and ensure proper risk management strategies are in place before entering any trades.
Happy trading and stay safe! 📈🚀
