📈 Technical Analysis of Eigen (EIGEN): Trading Opportunity on the Rise

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🔍 Updated Technical Analysis

Current Price: $1.95 USD

Daily Range: $1.50 – $1.96 USD

Trend: Bullish

Key Support: $1.57 (7-day SMA)

Immediate Resistance: $1.77

Potential Bullish Target: $2.16 – $2.69

EIGEN has surpassed key technical levels, including the pivot point of $1.57 and the 23.6% Fibonacci retracement at $1.61, with the MACD histogram turning positive (+0.035). The 7-day RSI (60.65) indicates room for further momentum without the risk of overbought conditions.

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📊 Fundamental Analysis and Recent Catalysts

TVL Growth: The total value locked (TVL) in EigenCloud reached an all-time high of $19.7 billion, indicating increasing adoption of the platform.

Exchange Listings: EIGEN has been listed on key platforms such as Binance and Coinbase, increasing its visibility and access for traders.

Innovation in Re-Staking: EigenLayer leads the re-staking space, allowing users to earn additional yields by re-staking their assets, attracting both traders and institutions.