$EIGEN
/USDT Technical Analysis and Trade Signals 🚀
Current Price: $3.95 (+4.10%)
24h High: $4.085
24h Low: $3.534
Bollinger Bands (20, 2):
Upper Band (UP): 3.941
Middle Band (MB): 3.876
Lower Band (DN): 3.810
Parabolic SAR (0.02, 0.2): 3.814 (bullish trend as price is above the SAR)
Trend Overview:
EIGEN is showing bullish momentum as it is trading above the middle Bollinger Band, with recent price action approaching the upper band. The Parabolic SAR is signaling that the trend is bullish, with price staying above the SAR level. The volume is healthy, and the price is near its 24h high, indicating potential continuation or a slight retracement.
Trade Strategy:
Long Position (Bullish Bias):
Entry Point: Consider entering long at $3.94 or higher (around current price), as it is above the middle band and shows a bullish trend. A confirmation of price holding above the middle Bollinger Band would be ideal.
Target Levels 🎯:
1. First Target: $4.085 (24h High)
The price has recently approached this level and may continue upward, making it a key short-term target.
2. Second Target: $4.15–4.20 (Resistance zone)
If EIGEN breaks above $4.085, the next likely resistance range could be between $4.15 and $4.20, marking a further extension of the bullish trend.
3. Third Target: $4.25 (Strong Resistance)
If momentum continues, $4.25 could be a key level to target, as it could act as a strong resistance based on previous price action.
Stop Loss (Risk Management):
Stop Loss Level: Place a stop loss around $3.81–3.82, just below the lower Bollinger Band and the Parabolic SAR, as this level provides strong support. A drop below this would signal a potential trend reversal or further consolidation.
Alternative Bearish Scenario:
Bearish Break: If the price breaks below $3.81, it could signal a reversal, and the price may target the next support level around $3.53 (24h low).
Summary:
Entry: $3.94 (current price) or higher
Targets: $4.085, $4.15–4.20, $4.25
Stop Loss: $3.81–3.82 for risk management