EIGEN/USDT is currently at a critical technical juncture. After months of downward pressure, the pair is now showing signs of a major bullish breakout from a descending triangle pattern, which is often a strong reversal signal. Are we about to witness an explosive upside move? Let’s dive into the setup.
🧠 Key Technical Structure
📌 Pattern: Descending Triangle (Bullish Reversal Potential)
Formed since December 2024
Strong horizontal support between $1.05–$1.28 (yellow box), tested multiple times
Series of lower highs forming a descending trendline, now being challenged by price action
This structure hints at heavy accumulation beneath resistance
📌 Volume: Gradually increasing near breakout zone — a sign of accumulation by smart money
📌 Breakout Confirmation: A daily close above $1.30 with strong volume will validate the breakout, potentially triggering a powerful move.
🟢 Bullish Scenario (Confirmed Breakout)
If EIGEN breaks and successfully retests the descending trendline, a major rally could follow, with these targets in sight:
🎯 Upside Price Targets:
1. $1.60 – Minor resistance and previous support flip
2. $1.98 – Previous distribution zone
3. $2.34 – Horizontal resistance from past structure
4. $2.98 – Mid-Fibonacci extension target
5. $4.01 – Full height target from triangle breakout
6. $5.48–$5.65 – Long-term target from historical resistance
✅ This structure aligns with a classic impulsive wave pattern following a major technical breakout.
🔴 Bearish Scenario (Failed Breakout / Fakeout)
Not all breakouts are successful. Here's what to watch out for:
🔻 If price fails to hold above $1.28, and breaks below $1.05, the structure turns bearish:
Opens the door for a trend continuation downward
Next supports lie at $0.90–$0.80, and possibly $0.65–$0.60
Indicates that sellers are still in control and accumulation has failed
🚫 This would invalidate the bullish setup and signal caution for long positions.
📌 Suggested Trading Plan
Entry Strategy:
Conservative: Wait for a confirmed breakout and successful retest above $1.30
Aggressive: Enter on intraday breakout with strong volume above trendline
Stop Loss: Below triangle support (~$1.02–$1.05)
Take Profits (TP): Scale out at $1.60 / $1.98 / $2.34 / $2.98 / $4.01 / $5.48
💬 Conclusion
EIGEN is on the verge of a major technical move. A clean breakout from the descending triangle could mark the transition from bearish consolidation to bullish expansion — a structure often seen before explosive rallies in altcoins.
Always manage risk wisely, stay alert for retests, and never chase entries without confirmation. This is a setup worth watching closely in the coming days!
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✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
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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.