🔍 Detailed Technical Analysis (1D Timeframe):
After months of bearish pressure, $EIGEN is now showing early signs of a trend reversal. The chart is painting a compelling picture of a breakout setup backed by a strong accumulation base and a long-term descending trendline.
🟨 Solid Accumulation Zone:
Price has been consolidating tightly within the $0.90 – $1.10 range, forming a clear accumulation zone. This zone has acted as a reliable support area multiple times, rejecting bearish attempts and indicating smart money accumulation.
This type of sideways base is often the foundation for explosive upside moves.
📉 Descending Trendline Breakout Setup:
A clear descending resistance line has been holding since the highs in December 2024.
Price is now approaching a critical breakout point. A confirmed breakout above this trendline could mark the beginning of a new bullish trend.
📈 Bullish Scenario (Momentum Breakout):
If price breaks out above the descending trendline and clears the key resistance at $1.227, the path toward higher targets opens up quickly:
Bullish Target Levels Description
🎯 $1.603 Minor psychological resistance
🎯 $1.980 Structural resistance
🎯 $2.341 Fibonacci confluence & supply zone
🎯 $2.982 Medium-term target
🎯 $3.993 Breakout continuation level
🎯 $5.480 – $5.659 Previous all-time high (ATH) region
📌 Note: For a valid breakout, look for a strong daily candle close above $1.227, ideally with high volume to confirm momentum.
🔻 Bearish Scenario (Rejection Play):
If price gets rejected at the trendline and fails to break $1.227:
A pullback to the $1.00 – $0.90 accumulation zone is likely.
If that support fails, price may drop toward:
🔻 $0.85
🔻 $0.78
🔻 $0.68 (key psychological & historical volume zone)
📊 Conclusion: Make or Break Moment Ahead
EIGEN is at a critical decision point. A successful breakout could kick off a major bullish phase, while a failure may extend the sideways or bearish action.
With a strong base formed and pressure building near the trendline, this setup deserves a spot on every trader’s radar.
#EIGENUSDT #CryptoBreakout #AltcoinSetup #TechnicalAnalysis #BullishScenario #BearishScenario #AccumulationZone #PriceAction #CryptoTrading #CryptoAnalysis
After months of bearish pressure, $EIGEN is now showing early signs of a trend reversal. The chart is painting a compelling picture of a breakout setup backed by a strong accumulation base and a long-term descending trendline.
🟨 Solid Accumulation Zone:
Price has been consolidating tightly within the $0.90 – $1.10 range, forming a clear accumulation zone. This zone has acted as a reliable support area multiple times, rejecting bearish attempts and indicating smart money accumulation.
This type of sideways base is often the foundation for explosive upside moves.
📉 Descending Trendline Breakout Setup:
A clear descending resistance line has been holding since the highs in December 2024.
Price is now approaching a critical breakout point. A confirmed breakout above this trendline could mark the beginning of a new bullish trend.
📈 Bullish Scenario (Momentum Breakout):
If price breaks out above the descending trendline and clears the key resistance at $1.227, the path toward higher targets opens up quickly:
Bullish Target Levels Description
🎯 $1.603 Minor psychological resistance
🎯 $1.980 Structural resistance
🎯 $2.341 Fibonacci confluence & supply zone
🎯 $2.982 Medium-term target
🎯 $3.993 Breakout continuation level
🎯 $5.480 – $5.659 Previous all-time high (ATH) region
📌 Note: For a valid breakout, look for a strong daily candle close above $1.227, ideally with high volume to confirm momentum.
🔻 Bearish Scenario (Rejection Play):
If price gets rejected at the trendline and fails to break $1.227:
A pullback to the $1.00 – $0.90 accumulation zone is likely.
If that support fails, price may drop toward:
🔻 $0.85
🔻 $0.78
🔻 $0.68 (key psychological & historical volume zone)
📊 Conclusion: Make or Break Moment Ahead
EIGEN is at a critical decision point. A successful breakout could kick off a major bullish phase, while a failure may extend the sideways or bearish action.
With a strong base formed and pressure building near the trendline, this setup deserves a spot on every trader’s radar.
#EIGENUSDT #CryptoBreakout #AltcoinSetup #TechnicalAnalysis #BullishScenario #BearishScenario #AccumulationZone #PriceAction #CryptoTrading #CryptoAnalysis
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✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.