$EIGEN has shown strong momentum, pushing toward the 1.60 resistance zone. However, signs of rejection near this level suggest a potential short-term correction if bulls fail to break through with strong volume.
📉 Trade Setup:
Short Entry Zone: 1.52 – 1.58
Ideal Entry: 1.57 – 1.60 (Look for bearish confirmation: wick rejection, bearish engulfing, or volume fade)
🎯 Targets:
TP1: 1.44 (previous breakout level)
TP2: 1.38
TP3: 1.32 (daily low region)
🔐 Stop Loss: 1.615 (above 24h high and resistance zone)
📊 Key Levels:
Resistance: 1.57, 1.60
Support: 1.44, 1.38, 1.32
Pivot Level: 1.52
💡 Pro Tip:
Monitor the 15m or 30m chart for signs of a bearish reversal. Weakening volume near 1.60 strengthens the short case. Once TP1 hits, consider trailing your stop to manage volatility risk.