‎EigenLayer Shows Signs of Recovery as Bearish Pressure Weakens

‎EigenLayer Market Analysis – June 10

‎EigenLayer (EIGENUSD) is beginning to show signs of recovery as the prolonged bearish pressure eases, with recent price action suggesting a shift toward bullish accumulation.

EIGENUSD Key Levels

‎Support Levels: $1.290, $0.830
‎Resistance Levels: $2.160, $3.190

‎EIGENUSD Long-Term Trend: Bearish

‎EigenLayer has been under sustained bearish pressure since the first quarter of the year, marked by a series of dominant bearish candlesticks on the daily chart. This downtrend continued until early May, when a significant bullish expansion emerged from the $0.730 demand level.
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‎This expansion not only halted the bearish momentum but also reclaimed the previously broken $1.290 support-turned-resistance zone. However, upon retesting this level, selling pressure reappeared, coinciding with the Relative Strength Index (RSI) entering the overbought territory on the daily chart.
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‎This renewed resistance caused the price to consolidate, and RSI momentum started to fade. Nevertheless, a fresh bullish impulse has recently formed on the RSI, suggesting that momentum may be returning in favor of the bulls. The market now appears to be targeting a key bearish order block on the daily timeframe, indicating potential for further upside if this level is broken.

‎EIGENUSD Medium-Term Trend: Bullish

‎Despite choppy movements on the daily timeframe, the 4-hour chart reveals a clearer bullish structure. Price action continues to respect an ascending trendline, and the latest bullish leg has confirmed support at this trendline, reinforcing the prevailing upward momentum.
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‎The 4-hour Moving Average also supports this outlook, with price trading above the indicator—a classic signal of bullish strength. However, it is advised to exercise caution, as the 4-hour RSI is nearing the overbought region. This could signal a potential short-term pullback or bearish retracement before continuation.

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