$EIGEN /USDT Technical Analysis
Current Price: $3.62
Analysis:
The $EIGEN /USDT pair is currently in a downtrend. The 4H chart shows a series of red candles, indicating strong selling pressure. The recent price action has formed a bearish flag pattern, which suggests further downside potential.
Trade Ideas:
Long Trade:
Not recommended at this time due to the strong bearish trend.
Short Trade:
* Entry: $4.148 (below the recent high)
* Target: $2.163 (support level)
* Stop Loss: $4.243 (resistance level)
* Leverage: 2x
Market Outlook:
The market is currently bearish. A breakdown below the $2.163 support level could signal further downside potential. Traders should monitor the market closely for any signs of a reversal.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.