#EIGEN

📐 Patterns:

1. Rising Wedge

The price has moved within a narrowing upward channel.

This structure is generally interpreted as bearish.

Currently, the wedge formation appears to be broken downwards.

2. Triple Top

Although Top 1 is not visible, the triple top formation is implied with the labels Top 2 and Top 3.

The triple top is a trend reversal formation and generally gives a bearish signal.

If the neckline is broken, the decline may accelerate.

🎯 Target Levels:

Target Type Price (USDT) First Target (Support) 1.2510 Main Target 1.1652

These levels seem to have been measured according to both the wedge and triple top structures.

Both targets correspond to areas where there have been horizontal supports in the past, indicating strong support levels technically.

📊 Technical Observations:

Current Price: 1.5905 USDT

Downward Potential:

Approximately 21% to the first target

Approximately 27% to the main target

Supports: 1.50 – 1.40 – 1.25 – 1.16

Resistances (for invalid scenario): If there are closures above 1.63, the bearish scenario may be invalidated.

⚠️ Risk Management and Strategy:

📉 Bearish Scenario:

It appears that the formation breakout has begun.

If the selling pressure is supported by volume, the targets may be tested in the short term.

📈 Bullish Scenario:

If there is a violation above the wedge (for example, above 1.63), the bearish formation may be disrupted and the upward trend may continue.

In this case, attempts for new highs (1.70+) may come into play.

✅ Summary:

Patterns: Rising Wedge + Triple Top

Trend: Downward breakout has begun

Targets: 1.2510 and 1.1652

Comment: Downward potential is technically strong. However, caution is advised in case of closures above 1.63; the bullish scenario may come into play.