EigenLayer (EIGEN/USDT) Bulls Stage Potential Reversal as Oversold Signal Aligns with Support Retest

For weeks, the crypto pair Eigenlayer against the Tether has been trading under sustained bearish pressure, consolidating under long-period EMAs. However, recent price behavior suggests a potential bullish reversal, with the price bouncing from the initial support zone.

Recently, the Stochastic oscillator suggested the pair was consolidating, as the pair’s price moved around the Guppy Multiple Moving Averages (GMMAs).

However, the bullish divergence from the oversold region with the increasing volume profile hints at growing buyers’ interest, as this could be a low-risk opportunity ahead of a corrective move.