Market Analysis: EigenLayer (EIGEN)
Current Price: $1.30
Ticker: $EIGEN
Market Sentiment: Cautiously Bullish
EigenLayer has shown a sharp rebound from a major low of $0.66 after bottoming out and is now trading at $1.30, following Ethereum’s recovery. As EigenLayer is highly correlated with Ethereum, any ETH movement reflects strongly on EIGEN due to its Ethereum-native ecosystem role.
Technical Structure:
Forming a Double Bottom with neckline at $1.00
Strong bullish push to $1.40, followed by retracement
Market now testing support and gearing up for the next leg
Key Levels:
Support Zone: $1.00 (double bottom neckline + psychological level)
Resistance Zone: $1.40 (recent top), $2.00 (mid-term target)
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Trading Plan:
Entry Zone: $1.15–$1.25 (pullback range)
Stop Loss: $0.98 (below key neckline)
Target 1: $1.40
Target 2: $2.00
Invalidation: Daily close below $1.00 for two days = bearish bias, target back to $0.66
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Summary:
EigenLayer remains bullish above $1.00, with potential to retest $1.40 and possibly reach $2.00 if Ethereum strength continues. Caution advised below $1.00.
#eigen #TradeOfTheWeek ##MarketAnalysis #CryptoNews #MarketUpdate
