$EIGEN /USDT Technical Analysis – Targets in Focus 🎯
EIGEN/USDT is showing significant volatility, presenting an exciting opportunity for traders. Let's dive into the current market structure and identify potential key levels.
Current Price: $4.20
24h High: $5.042
24h Low: $4.122
Technical Analysis
EIGEN is currently trading below its 24-hour high, with strong resistance and support zones forming. Based on the price action, here are 3 potential targets 🎯:
1️⃣ Target 1: $4.50
Why? This is the first resistance zone, aligning with recent support turned resistance. A breakout here could confirm a bullish reversal.
Potential Strategy: Look for a breakout above $4.30 with volume confirmation.
2️⃣ Target 2: $5.00
Why? Psychological level and a key Fibonacci retracement zone. If the price holds above $4.50, this target becomes achievable.
Potential Strategy: Use trailing stop-loss to secure profits if the momentum weakens near this level.
3️⃣ Target 3: $5.50
Why? Strong resistance from the previous price peak and potential overextension of bullish momentum.
Potential Strategy: Consider taking partial profits near $5.00 and letting the rest ride to $5.50 with tight risk management.
Key Levels to Watch
Support: $4.00
Resistance: $4.50, $5.00, $5.50
⚡ Trading Tip: Always use proper risk management and monitor trading volume for confirmation before entering trades!
What are your thoughts on EIGEN's price movement? Share your insights below! 🚀
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