The $EIGEN /USDT chart shows a strong bearish trend. The price has broken below a key support level, indicating a potential downward move.
Trade Recommendations:
* Short Trade: Enter short at the current price of 2.245. Set a target of 2.153 (the recent low) and a stop-loss at 2.427 (the recent high).
* Long Trade: Avoid going long at this point as the overall trend is bearish.
Market Outlook:
Given the bearish breakout and the strong downward momentum, the market is likely to continue its decline. Traders should monitor the next support level at 2.153.
Leverage:
Use leverage wisely. High leverage can amplify both profits and losses. Always manage risk effectively.