‎EIGENPIE Bears Regain Control as Price Retests $1.10900 Support Level

EIGENPIE Market Analysis – May 21

EIGENPIE continues to face strong selling pressure as the price struggles to hold above key support levels, signaling the persistence of bearish sentiment in the market.

EIGENUSD Key Levels

‎Support Levels: $1.10900, $0.50000
‎Resistance Levels: $2.02500, $2.69300

‎EIGENUSD Long-Term Trend: Bearish

‎EIGENUSD has been on a sustained bearish trajectory since reaching its peak in early December 2024. Following this high, the market structure shifted decisively downward, marking the beginning of a dominant bearish trend.
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‎Sellers have maintained firm control, with every bullish attempt meeting sharp rejection—evidenced by large upper wicks on daily candles. A critical breakdown occurred when price breached the $1.01900 demand zone, accompanied by the Relative Strength Index (RSI) dipping into oversold territory. While this suggested the potential for a bullish correction, the recovery was short-lived.
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‎The price failed to reclaim the $1.01900 support, instead retesting it before resuming its downward trend. With bearish momentum intensifying, the market appears poised to challenge the $0.50000 psychological support level, with a potential breach in view.‎

‎EIGENUSD Medium-Term Trend: Bearish

‎On the 4-hour chart, the bearish sentiment remains clearly defined. After decisively breaching the $1.10900 level, ‎EIGENPIE staged a textbook retest before resuming its descent. The retest confirmed the new resistance, reinforcing bearish conviction.
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‎Technical indicators on the 4-hour timeframe support the downtrend, with price action consistently trading below the Moving Average—signaling continued bearish pressure. The prevailing trend suggests further downside movement, with $0.50000 emerging as the next key level in focus.

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