$EIGEN Price Analysis: Significant Downtrend Persists.. Really A Big Dump... Huge losses who hold it
$EIGEN is currently trading at $3.687, experiencing a sharp decline of 25.98% in the last 24 hours. After reaching a daily high of $4.981, the price has plummeted to a low of $3.596, reflecting intense selling pressure.
Key Levels to Watch:
Support: $3.50 – This critical level must hold to prevent further decline toward $3.20.
Resistance: $4.25 – A recovery above this level could attract fresh buying interest.
Trade Setup:
Entry Point: Around $3.70 for potential recovery trades.
Targets:
1. $4.25 (short-term resistance)
2. $5.00 (major recovery zone)
Risk Management:
Stop-loss: $3.50 to manage potential downside risks.
Market Insight:
The ongoing sell-off highlights overwhelming bearish control. The volume spike suggests significant activity, but buyers need to step in at the $3.50 support zone for any recovery to materialize. Traders should remain cautious and wait for a confirmed reversal before entering aggressive positions.
