Eigen Layer (EIGEN) Bulls Are Lying Low

The Eigen Layer token hasn’t seen much price increase today, but it has shown enough activity to keep it on the radar. This token has registered a price increase of 6.54%. Nevertheless, price action remains below key technical levels. Let’s take a closer look.

Eigen Layer Statistics

EIGEN Current Price: $1.168

Market Capitalization: $271.59M

Circulating Supply: 234.97M

Total Supply: 1.71B

CoinMarketCap Rank: 151

Key Price Levels

Resistance: $1.200, $1.500, $2.000

Support: $1.100, $1.000, $0.800

Eigen Layer Drags at $1.000

The EIGEN market has remained depressed below all the available Moving Average (MA) curves on the chart. Despite the appearance of several green price candles, price action remains subdued.

The latest price candle is green but hovers just above the $1.00 level. However, the Stochastic Relative Strength Index (RSI) lines are rising rapidly—more noticeably than price increases. Consequently, this suggests that traders should not have high expectations in this market.

EIGEN Bulls Continue to Face Challenges

While the price action has just risen past two MA lines, it is already facing resistance. The latest price candle on the chart appears red, though relatively small. Meanwhile, the 20-day and 50-day MA lines have recently formed a crossover below price action.

The 100-day and 200-day MA lines remain far above the current price. The Stochastic RSI lines continue to rise steeply across multiple timeframes, from the daily chart to the 4-hour chart. As a result, it seems traders should not be overly ambitious, as price action may only reach the $1.200 level.

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