$EIGEN EigenLayer is another top crypto watch this week because of an upcoming big unlock scheduled on Tuesday. The network, which runs the biggest restaking platforms, will unlock tokens worth $80 million or 1% of the total supply.
That unlock will bring the total unlocked tokens to about 28%.
The EIGEN token peaked at $5.6 in December and then moved into a bear market, falling by 40% to the current $3.53 The coin has moved below the 61.8% Fibonacci Retracement and the 25-moving average. It has formed a descending triangle pattern whose lower side is at $3.31.
EIGEN will likely have a bearish breakout and get to the psychological point at $3. Conversely, a bullish breakout above the descending trendline will point to more gains.