$EIGEN Price Analysis: Major Downtrend Continues… Really Big Drop… Huge Losses for Those Who Hold It
$EIGEN is currently trading at $3,562, witnessing a sharp decline of 27.42% in the last 24 hours. After reaching a daily high of $4,981, the price has dropped to a low of $3,596, reflecting intense selling pressure.
Key Levels to Watch:
Support: $3.50 – This critical level should hold to prevent further decline towards $3.20.
Resistance: $4.25 – A recovery above this level could attract fresh buying interest.
Trading Setup:
Entry: Around $3.70 for potential recovery trades.
Targets:
1. $4.25 (Short-term resistance)
2. $5.00 (Key recovery area)
Risk Management:
Stop Loss: $3.50 to manage potential downside risk.
Market Overview:
The ongoing selling highlights overwhelming bearish control. The high volume suggests significant activity, but buyers need to step in at the $3.50 support area for any recovery to take place. Traders should remain cautious and wait for a confirmed reversal before entering aggressive positions.
