DOWNWARD TREND ALERT🚨: $EIGEN /USDT AT CRITICAL ZONE ‼️‼️🚀🚀
The EIGEN/USDT chart on the 15-minute timeframe is signaling a notable downtrend within a descending channel. Currently priced at 2.853 USDT, this coin is facing pressure with lower highs and lower lows, indicating a sustained bearish sentiment.
💡 Key Levels to Watch:
• Resistance: 2.900 USDT – Breaking above this upper trendline could hint at a potential reversal, attracting buyers for a bullish breakout.
• Support: 2.786 USDT – This level is the last line of defense. A break below may accelerate the downward trend, opening the door to further losses.
📉 Entry Strategy:
• Long Entry: Above 2.900 USDT, if price consolidates and breaks out of the channel, consider entering with a Stop Loss at 2.850 USDT.
• Short Entry: Below 2.786 USDT, signaling further downside. Place Stop Loss at 2.830 USDT to manage risk.
📉 Targets:
• Short-Term: Aim for 2.800 USDT for a quick scalp if the downtrend continues.
• Long-Term: Watch for 2.750 USDT as a more extended target, especially if bearish momentum picks up.
⚠️ Caution: The descending channel could continue to suppress price, so trade with a solid risk management plan. Patience is key; only enter if the critical levels are broken to avoid getting trapped in false signals.