🚀 EIGEN/USDT Long Trade Setup 🚀
A profitable long trade setup is forming on #EIGENUSDT — here’s what we have to keep an eye on:
🔹 Descending Channel Formation:
EIGEN is moving within a descending channel, a bullish reversal pattern. A breakout from this structure often signals a strong upward move.
🔹 Daily Breakout Incoming:
Price is currently testing the upper boundary of the channel and is on the verge of a daily breakout. Momentum is building!
🔹 Daily 50 EMA Resistance:
The 50 EMA on the daily timeframe is also nearby, providing an important resistance level. A clean break above this EMA will strengthen the bullish case.
🔹 Entry Plan:
We are waiting for a 4-hour or daily candle breakout and retest. Confirmation of support on the retest will trigger our long entry.
🔹 Target:
🎯 First major target is set at $1.20+.
Further targets will be shared as the move develops.
🔹 Risk Management:
As always, apply tight risk management and use stop-loss based on your entry and leverage level.
🔹 Stay Alert:
This setup is heating up fast! 🔥
We’ll update with new setups and opportunities.
👉 For more trade setups, make sure to follow!
