$EIGEN /USDT Technical Analysis – Targets in Focus 🎯

EIGEN/USDT is showing significant volatility, presenting an exciting opportunity for traders. Let's dive into the current market structure and identify potential key levels.

Current Price: $4.20

24h High: $5.042

24h Low: $4.122

Technical Analysis

EIGEN is currently trading below its 24-hour high, with strong resistance and support zones forming. Based on the price action, here are 3 potential targets 🎯:

1️⃣ Target 1: $4.50

Why? This is the first resistance zone, aligning with recent support turned resistance. A breakout here could confirm a bullish reversal.

Potential Strategy: Look for a breakout above $4.30 with volume confirmation.

2️⃣ Target 2: $5.00

Why? Psychological level and a key Fibonacci retracement zone. If the price holds above $4.50, this target becomes achievable.

Potential Strategy: Use trailing stop-loss to secure profits if the momentum weakens near this level.

3️⃣ Target 3: $5.50

Why? Strong resistance from the previous price peak and potential overextension of bullish momentum.

Potential Strategy: Consider taking partial profits near $5.00 and letting the rest ride to $5.50 with tight risk management.

Key Levels to Watch

Support: $4.00

Resistance: $4.50, $5.00, $5.50

⚡ Trading Tip: Always use proper risk management and monitor trading volume for confirmation before entering trades!

What are your thoughts on EIGEN's price movement? Share your insights below! 🚀

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