EIGEN/USDT is trading at $3,979, showing signs of consolidation as it approaches a critical resistance level. The chart suggests that a decisive move may be on the horizon.
🔹 Support and resistance levels:
Resistance: $4,100 – a key level to watch. A breakout above this level could push the price to $4,300, signaling a bullish continuation.
Support: $3,850 – a strong demand zone where buyers are actively defending the price.
📈 Market sentiment:
EIGEN is forming higher lows, indicating increasing bullish pressure. Consolidation near resistance shows that the market is preparing for a potential breakout.
🎯 Entry strategy:
Traders looking for a breakout can enter on a confirmed move above $4,100 with high volume to play the momentum.
Conservative traders may wait for a correction to $3,850 for a safer entry and a tighter stop-loss.
💡 Tip: Keep a close eye on trading volume – a spike during a breakout often serves as strong confirmation. Use a stop-loss just below $3,850 for effective risk management.
🔥 Will EIGEN break through resistance and rise? The situation looks promising – watch for the next major move! 🚀
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