‎EIGENLAYER Prepares for Bearish Continuation Despite Recent Bullish Activity

‎EIGENLAYER Market Analysis – July 8

‎EIGENLAYER prepares for a potential bearish continuation as recent bullish momentum fades and price action remains confined within a weakening symmetrical triangle formation.

‎EIGENUSD Key Levels

‎Support Levels: $0.870, $0.490
‎Resistance Levels: $1.210, $1.650

‎EIGENUSD Long-Term Trend: Bearish

‎EIGENLAYER has maintained a bearish trajectory since April 2025, with price action consistently forming lower highs and lows. Although early May brought a strong bullish push—raising hopes for a potential trend reversal—the rally eventually stalled near the $1.650 supply level. Multiple failed attempts to breach this key resistance zone led to a renewed downward movement.
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‎The price has now dropped below the $1.210 supply level, reinforcing bearish sentiment. Currently, price action is consolidating within a symmetrical triangle, often a precursor to a major move. Given the dominant bearish trend and the failure of the recent bullish attempt, a downside breakout appears more likely.
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‎Further supporting this view, the daily Relative Strength Index (RSI) has declined from the overbought region and is steadily moving toward oversold territory—signaling weakening bullish momentum and setting the stage for further decline.

‎EIGENUSD Medium-Term Trend: Bearish

‎On the 4-hour chart, EIGENUSD remains confined within the symmetrical triangle pattern, showing increasing indecision in price. The $1.210 level continues to act as a strong resistance, halting any short-term bullish advances.
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‎Additionally, the 4-hour RSI reflects declining price strength, adding confluence to the bearish outlook. Should a breakdown occur, price is expected to target the $0.870 demand level as the next major support zone.

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