EIGEN/USDT Holds Above 200-MA, Eyes Further Gains
$EIGEN

200-period Moving Average (MA)

The current price of $3.847 is trading just above the 200-period moving average at $3.788. This close alignment with the 200-MA shows a potential support level, indicating a bullish sentiment if the price can maintain above this average.

Relative Strength Index (RSI)

The RSI is at 57.16, indicating moderate bullish momentum. This level is above the neutral 50, signaling a potential for upward movement, though it remains below overbought levels, suggesting further room for growth.

Moving Average Convergence Divergence (MACD)

The MACD indicates a minor bullish crossover, with the MACD line slightly above the signal line, accompanied by a positive histogram. This configuration suggests potential upward momentum, although the strength of this trend is relatively modest at this stage.

Bullish Scenario

If EIGEN/USDT holds above the 200-MA and sustains buying interest, it could target the recent high of around $4.000. A breakout above this level would signify increased bullish momentum, potentially aiming for $4.250 as the next resistance.

Bearish Scenario

If selling pressure arises, EIGEN/USDT could retrace toward the 200-MA at $3.788. A drop below this level would indicate a bearish reversal, with potential declines towards $3.500 if the downward pressure continues.

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please make all investment decisions at your own discretion