1. Current price and key technical indicators $EIGEN
- Current price: $1.45–$1.46 (up 2.65% over 24 hours).
- Market capitalization: $437.46 million, with a circulating supply of 300.55 million coins.
- Resistance and support:
- The price faces resistance at $1.49, and has recently fallen below it, indicating short-term downward pressure.
- Psychological support at $1.30, which is the expected minimum for 2025 according to long-term forecasts.
2. Technical analysis using indicators
- Relative Strength Index (RSI):
- On the weekly timeframe, RSI is at 0.00 (an incomplete technical indicator), but the overall trend is currently considered bearish.
- Moving averages:
- The relationship between the 50-day and 200-day moving averages is neutral, indicating a waiting state in the market.
- MACD:
- It shows a bearish signal on the weekly frame, with the signal line moving below zero for 50 periods.
3. Short-term forecasts
- Today (May 21, 2025):
- The price may experience fluctuations between $1.30 (support) and $1.50 (temporary resistance).
- A slight improvement is expected if the price surpasses the $1.50 level, with a potential rise towards $1.70 by the end of the week.
- June 2025:
- According to monthly forecasts, the price could reach $3.10 (+112% from the current price) by mid-month, with an expected average of $2.56.
4. Recommendations for traders
- Day traders: It is advisable to closely monitor the $1.49 level as a key for the trend. Breaking this level may indicate the beginning of a rise.
- Long-term investors: The opportunity is attractive given the forecast of the price rising to $3.20 by the end of 2025 and $5.11 by 2027.
- Risk management: Set stop-loss orders at $1.25 to avoid losses in case of a sharp decline.
Summary
Today, EIGEN shows mixed signals with short-term downward pressure against medium-term bullish expectations. Caution is advised and close monitoring of market movements is recommended, especially with June approaching, which is expected to be pivotal for the currency.
