$EIGEN Pulls Back After Sharp Rally – Is Momentum Fading or Just Cooling Off?

$EIGEN surged above $2.05, marking a breakout rally fueled by strong buying pressure, with volume spiking to 46.2K EIGEN. However, the latest 4H candle shows a sharp retracement to $1.96 (-4.2%), signaling profit-taking after the parabolic move. Key support now lies around $1.90–$1.85, while resistance remains near $2.05–$2.10. If bulls defend the $1.90 zone, momentum could resume toward $2.20; failure to hold risks a deeper correction back toward $1.70–$1.75.

The next sessions will test whether this is consolidation or the start of a reversal.

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