A short technical analysis and trade signal for $EIGEN
/USDT based on the current price action and market data:
Technical Analysis:
Current Price: $3.52 (+2.77% change in the last 24 hours)
24h High: $3.70 | 24h Low: $3.28
Key Resistance Levels:
First Resistance: $3.70 (24h High)
Second Resistance: $3.75 (next potential breakout level)
Key Support Levels:
First Support: $3.28 (24h Low)
Second Support: $3.37 (recent consolidation area)
Trade Signal:
Trade Type: Bullish (Potential continuation of upward momentum)
Entry Point: $3.50 – $3.52 (current price zone)
Target Levels:
1. First Target (T1): $3.70 (near the 24h High)
2. Second Target (T2): $3.75 (potential resistance area)
3. Third Target (T3): $3.85 (next resistance zone)
Stop Loss: $3.28 (just below the 24h Low for risk management)
Momentum:
The 2.77% increase in the last 24 hours shows a positive short-term momentum.
Volume Analysis: The 24h volume of 9.18M EIGEN and 32.11M USDT suggests decent liquidity, supporting the continuation of price movement in either direction.
The price is currently testing near-term resistance levels, and breaking above $3.70 could trigger further bullish momentum.
Conclusion: The trend is bullish with possible upside if the price breaks the $3.70 resistance. Watch for signs of consolidation or reversal near support levels for risk management.