EIGEN/USDT Technical Analysis š: Buying, Selling, and Stop Loss Targets šÆ
Current Price: 3.920 USDT
Support Level: 3.348 USDT
Resistance Level: 3.964 USDT
Trading Data:
24h High: 3.964 USDT
24h Low: 3.348 USDT
24h Volume (EIGEN): 12.58M
24h Volume (USDT): 46.92M
Technical Analysis:
Price Trend: EIGEN is up by +6.43%, indicating strong bullish momentum.
RSI (Relative Strength Index): RSI is approaching overbought levels, which could indicate a short-term pullback.
Moving Averages: The price is above the moving averages, suggesting a continued bullish trend, but caution is advised as it approaches resistance.
Support and Resistance Zones: The next support level lies at 3.348 USDT, while resistance is found at 3.964 USDT.
Step-by-Step Trading Strategy:
Buy Signal:
Look for buying opportunities near the support zone of 3.348ā3.380 USDT.
If the price breaks above 3.964 USDT, this could signal further upward movement.
Sell Signal:
Take profit near resistance levels around 3.964ā4.000 USDT.
Extended targets could reach 4.100 USDT if bullish momentum persists.
Stop Loss:
Place a stop loss below 3.348 USDT to protect against a deeper pullback.
Target Price:
Short Term: 3.964ā4.000 USDT.
Medium Term: 4.100 USDT, contingent on a successful breakout.
Important Notes:
EIGEN is currently in a strong upward trend, but be cautious as it approaches resistance.
Monitor for a breakout above 3.964 USDT for further bullish confirmation.
Watch for pullbacks to the support level at 3.348 USDT for potential buying opportunities.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and trade responsibly.