EIGENUSD Market Analysis – August 4
EIGENLAYER faces a renewed bearish reversal after a failed bullish attempt, signaling a continuation of its long-term downward trend.
EIGENUSD Key Levels
Support Levels: $1.040, $0.600
Resistance Levels: $1.580, $2.130
EIGENUSD Long-Term Trend: Bearish
EIGENLAYER has resumed its primary bearish trend following a temporary bullish correction. In February 2025, a significant bearish break of structure occurred, causing price to breach the key $1.040 demand level. Although a bullish retracement followed—pushing price as high as the $0.600 level—this move failed to establish a full trend reversal.
The bullish rally appeared strong but ultimately fell short as price was unable to reclaim and hold above the $1.040 level. Instead, the level acted as resistance, generating another bullish reaction that formed a lower high near a key daily order block. This failure to surpass the previous high resulted in the formation of a failed high pattern, signaling a shift back toward bearish sentiment.
Price is currently declining once again, approaching the $1.040 level with bearish pressure building. The daily Moving Average now aligns with this bearish momentum, reinforcing the likelihood of further downside as sellers regain control.
EIGENUSD Medium-Term Trend: Bearish
On the 4-hour chart, the bearish outlook is further validated by the formation of a Head and Shoulders pattern which adds confluence to the broader bearish narrative. As price retested the $1.040 demand zone, a brief bullish reaction lifted it above the 4-hour Moving Average, suggesting temporary strength. However, this upward move appears to lack sustainability. The 4-hour Relative Strength Index (RSI) is nearing the overbought territory, indicating reduced bullish momentum.
With price approaching the 4-hour order block and overbought conditions emerging, a fresh wave of selling pressure is anticipated. If the bearish scenario plays out, EIGENUSD could breach the $1.040 level decisively, continuing its downward trajectory in alignment with the prevailing long-term trend.
Make money without lifting your fingers: Start using a world-class auto trading solution
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
