$EIGEN – Bullish breakout towards the resistance area!
It bounced strongly from the support level of $1.356 and is now trading around $1.47, an increase of about 6% in the last 24 hours.
With volume support driving the price above a minor resistance, the bulls are gaining momentum and looking towards the next major resistance around $1.50–$1.52.
After re-testing the low over 24 hours at $1.356, it recorded a higher low and rose with an increase in volume.
The price is now consolidating below the intraday high of $1.488.
A breakout above this range may lead to a swift move towards the resistance area of $1.52, especially with strong buying support near $1.46.
If the price remains above $1.460, the breakout structure remains valid.
However, failing to hold $1.43 may call for a deeper re-test.
Trade Setup (Long):
Entry Price: $1.460 – $1.475
Target 1: $1.520
Target 2: $1.580
Stop Loss: $1.430
Buy and trade here on $EIGEN