$EIGEN BREAKS PREVIOUS RECORDS !!!
EIGEN's remarkable launch on Binance, soaring from $0.30 to $4.94 (over 1000% increase), indicates immense buying pressure and market enthusiasm. Currently, it's consolidating around $3.94, with intermittent spikes to $4.30.
Technical Analysis:
- RSI: 73 (overbought territory)
- MACD: Bullish crossover
- Bollinger Bands: Expanding
Key Levels:
- Support: $3.94 (current consolidation)
- Resistance: $4.94 (initial peak)
- Potential Target: $5.50-$6.00
Market Sentiment:
- Extremely bullish, driven by launch hype
- High trading volume
Recommendations:
Buy:
- Above $4.30 (breakout confirmation)
- $3.50-$3.80 (support re-test)
Sell:
- $4.94 (initial peak re-test)
- $5.50-$6.00 (profit-taking)
Stop-Loss:
- $3.20 (support break)
Guidance:
1. Caution: EIGEN's rapid surge may attract profit-takers; be prepared for potential corrections.
2. Set realistic targets; consider taking profits at $5.00-$5.50.
3. Monitor volume and market sentiment; a decline in buying pressure may signal a reversal.
