$EIGEN /USDT Rejected at Resistance — Bearish Below $1.18
EIGEN is currently trading at $1.09 (+0.37%), showing weakness after a modest bounce from the 24h low of $1.031. The price remains below all major moving averages, indicating strong selling pressure:
MA(7): $1.185
MA(25): $1.351
MA(99): $1.273
Technical Breakdown:
Consistent rejection below $1.18 confirms that EIGEN is struggling to gain momentum.
As long as price holds below the $1.18–$1.22 zone, any bounce is likely to be short-lived.
Breakdown support lies near $1.03, and if lost, $0.955 and $0.920 are next downside targets.
A bullish reversal would only be confirmed if EIGEN closes above $1.22, ideally with rising volume. Until then, trend remains bearish.
Outlook: Bearish bias. Traders may look for lower entries or wait for a reclaim of $1.18+ to consider upside potential.