๐จ $EIGEN /USDT WARNING: CRITICAL SELL-OFF โ NEXT MOVE COULD BE DECISIVE! ๐จ
$EIGEN /USDT is experiencing intense selling pressure, now trading at 2.372 USDT, down -14.00% within 24 hours. The chart shows a steep decline from its high of 2.835 USDT, and itโs now sitting at its lowest point of the day, which suggests a lack of immediate buying interest and heightened risk for a further drop.
๐ก CRITICAL Levels to Watch ๐ก
Resistance Level: 2.517 USDT โ This resistance needs to be reclaimed to start any potential reversal. Breaking above it could signal a possible bounce.
Support Zone: 2.350 USDT โ Currently, EIGEN is near this key support. A break below could send the price spiraling further down towards 2.300 USDT or even lower if panic selling escalates.
๐ฎ TRADE STRATEGY SUGGESTION ๐ฎ
โ ๏ธ Bearish Continuation Scenario:
If $EIGEN breaks below 2.350 USDT, it could accelerate toward 2.300 USDT. Short positions might be favorable if this support level cracks, with a stop just above 2.517 USDT to manage any unexpected bounce back.
๐ Potential Reversal Setup:
Should EIGEN find support near 2.350 USDT and start consolidating, a recovery attempt could push it back up to 2.517 USDT or slightly higher. Long entries could be considered if buying volume increases, but proceed with caution, as the trend remains heavily bearish.
Final Thoughts
EIGEN/USDT is currently in a highly bearish phase, and traders should stay alert for either a break below support or signs of a potential bounce. Strict risk management is essential in these conditions, as the next move could determine whether EIGEN stabilizes or continues its downward trajectory.
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Stay cautious, and keep a close watch on these critical levels to guide your trading decisions in this volatile environment!
