Technical Analysis Report: $EIGEN /USDT
Current Price: $3.421
Trend Analysis: $EIGEN shows a slight increase of 1.12%, with a current price close to its recent high of $3.714. The moving averages (MA7: $3.419, MA25: $3.516, MA99: $3.597) indicate a potential consolidation phase as they converge.
Volume: The trading volume for $EIGEN is at 16.97 million, while the USDT volume is significantly higher at 59.67 million, indicating substantial interest in this trading pair.
Resistance: The immediate resistance lies at $3.714, the 24-hour high. A break above this level could indicate further bullish momentum.
Support: The primary support is found at the 24-hour low of $3.349, which might hold if there's a retracement.
Trade Recommendation:
Long Trade: Consider going long if EIGEN breaks past the $3.714 resistance.
Target 1: $3.75
Target 2: $3.80
Target 3: $3.85
This analysis suggests that if EIGEN can sustain a breakout above $3.714, there could be a potential for further upside to the targets mentioned, supported by a solid trading volume.
