Will Eigenlayer's (EIGEN) Uptrend Continue to $10 as Trading Profits Pass $4 in One Day?
With Binance announcing the listing of Eigenlayer, the cryptocurrency market is regaining momentum and interest in EIGEN is growing. After Binance's listing, other major exchanges, including KuCoin and Bitget, added EIGEN to their offerings.
In addition, the main US exchange Coinbase announced the transition from the EIGEN-PERP pre-launch market to a standard permanent futures market. This transition began earlier today, October 1st.
EIGEN hits $4
With high demand for Eigenlayer, the market capitalization grew to $767 million and the EIGEN token reached a market price of $4.30, accompanied by a massive 145% increase in 24-hour volume.
Since its listing, Eigen has risen 15.94% and is currently trading at $4.31. The technical chart on Binance shows that the uptrend of EIGEN takes a sideways approach and consolidates above the $ 4 mark. The consolidation reflects a slowdown due to the exhaustion of the growth that follows the initial growth of the trade. However, the sideways trend, rather than a pullback, indicates that buyers are holding on to their recent purchases. Also, a potential double reversal appears in the consolidation zone.
Trading volume for Eigenlayer has seen a slight decline amid this consolidation, suggesting that initial listing gains may be slowing.
Will Eigenlayer hit $10? Logo
Cryptocurrency News Analysis Eigenlayer (EIGEN) Rises Mid Binance Trading: Is $10 Within Reach? Eigenlayer (EIGEN) Rises Mid Binance Trading: Is $10 Within Reach?
Will Eigenlayer's (EIGEN) Uptrend Continue to $10 as Trading Profits Pass $4 in One Day? With Binance announcing to list Eigenlayer, the cryptocurrency market is gaining momentum and interest in EIGEN is growing. After Binance's listing, other major exchanges, including KuCoin and Bitget, added EIGEN to their offerings.
In addition, the main US exchange Coinbase announced the transition from the EIGEN-PERP pre-launch market to a standard permanent futures market. This transition started earlier today, October 1st.
Will EigenLayer hit $10?
EigenLayer is a middleware built on the Ethereum network. It contributes to making decentralized trust common. Eigenlayer's growing adoption and listing on major exchanges could fuel a new bullish trend. Based on the 5-minute time frame, Fibonacci levels based on the trend, the uptrend can target the 50% Fibonacci level at $6 and the 61.80% Fibonacci level at $6.50.
If the uptrend continues, the altcoin could reach the psychological $10 mark, driven by strong demand and improved sentiment in the cryptocurrency market. However, future targets remain uncertain due to the lack of historical price action, and the arrival of bearish momentum in the market could further worsen the outlook.
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