EigenLayer (EIGENUSD) Price Claims another Bullish Cycle

EigenLayer Price Forecast: January 18

It’s nice to see a strong buying reaction at the $3.34 level as the EIGENUSD price claims another bullish cycle where lots of contracts were accumulated. In the last 24 hours, the coin price has risen by 7% amid a broader market recovery. As the market dynamics shift, if the coin price could sustain above the pattern supply trend line at a $4.27 peak barrier, the token price may trigger up to the overhead resistance mark at the $4.70 level amidst market-wide optimism, thus a clear buy signal.

Key Levels:
Resistance Levels: $3.34, $3.35, $3.36
Support Levels: $2.76, $2.75, $2.74

EIGENUSD Long-term Trend: Bullish (4H Chart)
Investors are eyeing the EIGENUSD pair as it reclaims another bullish cycle and holds steady amidst market fluctuations in its long-term outlook. The coin shows that it experiences exponential growth due to increased supply and heightened demand for the crypto.
The price responded to the shift in the market structure and is currently above the moving averages, suggesting a bullish trend.

The sustained bullish pressure at the $3.32 high value in the previous action has made it easier for the crypto to claim another bullish cycle and remain above the supply trend lines in its recent high.

With the positive sentiment, the EigenLayer price claims another bullish cycle and rallied up to the $3.34 resistance value above the EMA-50 as a pullback as the 4-hourly chart opens today.

The EIGENUSD market is gaining traction with bullish movements; a potential breakout from the $3.34 high level could propel the token price to hit the $4.27 peak barrier before the bear’s intervention.

Additionally, the daily stochastic remain upward. Thus, the EigenLayer price may continue its bullish journey, driving the coin price to the $4.70 upper high level in the days ahead as it claims another bullish cycle in its higher time frame.

EIGENUSD Short-term Trend: Bullish (1H Chart)

The EIGENUSD pair has claimed another bullish cycle and looks nice for long on the medium-term outlook.
The coin price is close to the upper resistance area above the moving averages with huge volumes from the bulls. Thus, the recent market structure has favored the bulls.

The coin has been having a series of higher highs and higher lows from the last session, making it possible for the crypto to claim another bullish cycle in its recent high.

The bulls have the market at their disposal as the EigenLayer price rises to a $3.34 high mark above the moving average to resume the 1-hourly chart today, buoyed by broader market recoveries. However, a high retest to the breached $3.42 supply value will suggest strength in bullish momentum.

Notably, the daily stochastic is in an upward trend, suggesting a continuation of the bullish cycle.

Thus, if the bulls should add more aggression to their activities in the market, the $4.70 resistance level might be reached soon as it claims another bullish cycle in its lower time frame.

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