$EIGEN /USDT Daily Chart Analysis – 🚀 Bullish Momentum with Caution at Bearish Crossovers

Current Price: $0.926 (+19.48%)

Daily Range: High: $0.926 – Low: $0.775

🔹 Key Technical Insights:

Trend & Price Action:

✅ EIGEN has surged by +19.48% today, showing strong bullish momentum.

✅ The price is above the key moving averages, confirming the continuation of the uptrend.

✅ Bollinger Bands are expanding, signaling increased volatility and the potential for further price movement to the upside.

Moving Averages (MA):

✅ SMA 5, 10, 20, 50 → All Bullish → Confirming the uptrend across various timeframes.

Momentum Indicators:

RSI (D: 57.86, 15: 83.38, 60: 86.66, 240: 85.58) → Neutral to overbought levels ⚠️

Stochastic RSI: Bearish crossover → Possible short-term reversal to the downside ⚠️

MACD: Bearish crossover → Indicates weakening bullish momentum ⚠️

ADX: Bearish crossover → Signals weakening trend strength ⚠️

MFI (Money Flow Index): Bearish range → Indicates potential selling pressure ⚠️

VWAP: Uptrend → Suggests continued buying pressure from institutions ✅

📉 Support & 📈 Resistance Levels:

📈 Resistance: $0.926, $1.00, $1.20

📉 Support: $0.775, $0.70, $0.60

⚠️ Outlook & Trading Plan:

✅ Bullish Scenario: A break above $0.926 could lead to further gains toward $1.00 - $1.20.

⚠️ Bearish Risk: Overbought conditions on the RSI and the bearish crossovers from the Stochastic RSI and MACD suggest caution and potential pullbacks toward support levels.

📢 Conclusion:

EIGEN/USDT is experiencing a strong bullish trend, with positive momentum supported by MACD, VWAP, and moving averages. However, the bearish crossovers in the Stochastic RSI and MACD, combined with overbought conditions, suggest that a short-term pullback could occur. Watch for price action around support levels for any potential reversal or continuation of the uptrend.

#EIGEN #Crypto #Trading #TechnicalAnalysis 🚀