‎Eigen LayerPoised for Bullish Reversal as Failed Low Pattern Signals Potential Breakout

‎EIGENUSD Market Analysis- August 11

‎Eigen Layer is showing strong signs of a potential bullish reversal, with a newly formed failed low pattern hinting at a breakout beyond key resistance levels.

‎EIGENUSD Key Levels

‎Support Levels: $1.050, $0.700
‎Resistance Levels: $1.600, $2.000

‎‎EIGENUSD Long-Term Trend: Bearish

‎Eigenlayer’s price action initially maintained a bullish trajectory but began forming lower lows into April 2025. However, during the same month, a failed low pattern emerged, triggering a strong bullish rally toward the $1.600 supply level.
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‎The $1.600 resistance halted further upward movement, causing a decline in June 2025. Since then, price has consolidated within a range bounded by the $1.600 supply zone and the $1.050 demand zone. Recently, a fresh failed low pattern has appeared, suggesting renewed buying interest.
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‎This pattern increases the likelihood of price breaking above the $1.600 supply level, potentially initiating a full bullish reversal. The daily Relative Strength Index (RSI) shows rising momentum, adding confluence to the bullish outlook. Should price clear the $1.600 barrier, the broader market bias would shift upward, paving the way for higher highs and possibly a run beyond $2.000.

‎EIGENUSD Short-Term Trend: Bearish

‎In the short term, price is advancing from the $1.050 demand zone but appears to have reached a temporary peak with the formation of a double top pattern—a traditional reversal signal. This suggests a pullback may be imminent.
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‎Supporting this view, the 4-hour RSI is retreating from overbought territory, reinforcing expectations of a minor bearish retracement. However, this pullback is viewed as corrective rather than trend-defining, as the overall market structure leans toward a bullish breakout scenario.

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