‎EIGENUSD Anticipates Bearish Continuation

‎EIGENUSD Market Analysis- April 22‎

‎EIGENUSD continues its descent as bullish momentum weakens further, confirming a bearish outlook in the long-term trend.‎

‎EIGENUSD Key Levels:‎

‎Support Levels: $1.08970, $0.56380
‎Resistance Levels: $2.18420, $3.47760

‎EIGENUSD Long-Term Trend: Bearish (Daily Chart)

Since reaching a major high in December 2024, the market has remained under strong selling pressure, resulting in a consistent decline that recently breached the key $1.08970 demand level.
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‎‎Throughout the downward move, sellers have maintained firm control over price action. Even temporary bullish attempts, as seen in the Relative Strength Index (RSI), failed to generate meaningful recoveries on the price chart. A notable uptick in bullish momentum occurred in March 2025, forming a head and shoulders pattern — a classic crypto signal of trend reversal that typically precedes continued downside.
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‎‎This technical formation ultimately paved the way for another bearish breakout, as price decisively broke below the $1.08970 demand level. The emergence of bearish candlesticks further reinforces the
‎likelihood of an extended downtrend.

‎EIGENUSD Medium-Term Trend: Bearish (4H Chart)

‎On the 4-hour chart, price initially rebounded after breaching the $1.08970 level, experiencing a brief bullish correction that pushed it above the 4-hour Moving Average (MA). However, this rally proved short-lived as price was swiftly rejected back below the MA, confirming a resumption of bearish control.
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‎The 4-hour RSI also reflects waning bullish strength, sloping downward and aligning with the broader daily bearish trend. As downward momentum continues to build, further price depreciation is anticipated in line with the prevailing bearish bias.

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