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The Eigen Layer token has been rising from one higher base level to another. As of the time of writing, this token has experienced a price growth of 6.74% and stands as the second most profitable coin on the top crypto movers list. In addition, price action suggests that this market is still favorably positioned for further upward movement.
Eigen Layer Statistics
Current Price: $1.554
Market Capitalization: $477.49M
Circulating Supply: 304.17M
Total Supply: 1.72B
CoinMarketCap Rank: 128
Key Price Levels
Resistance: $2.00, $2.50, $3.00
Support: $1.50, $1.00, $0.50
Eigen Layer Bulls Still Possess Significant Strength
Buying activity on the EIGEN daily chart continues to grow. While the market had faced some challenges in recent trading sessions, upward momentum appears stronger during today’s session.
The upper and lower limits of the Bollinger Bands are converging, while trading activity remains above the middle band. Additionally, the Stochastic Rate of Change indicator line is now above the equilibrium level and still moving upward. Considering this along with the contraction observed in the Bollinger Bands, the token may appreciate beyond its current price.
EIGEN Maintains Focus on the $2.00 Threshold
Price patterns in the Eigen Layer 4-hour chart suggest that the market may continue its upward movement. Since the previous session, price action has rebounded with moderate momentum off the middle line of the Bollinger Bands, and today’s trading session has extended that upward trend.
The latest price candle is testing the upper limit of the Bollinger Bands and lacks an upper shadow, indicating limited downward pressure. Meanwhile, the lines of the Smoothed Rate of Change (SROC) indicator are turning upward toward the equilibrium level. Technically, price action may continue toward the $2.00 mark if the SROC line moves above the equilibrium level.
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