‎EIGENUSD Builds Bullish Momentum Builds Despite Short-Term Pullback Risks

‎EIGENUSD Market Analysis- September 22

‎EIGENUSD is showing signs of a strong comeback, with technical indicators pointing to the end of its bearish cycle and the start of a potential bullish rally.

‎EIGENUSD Key Levels

‎Support Levels: $1.040, $0.500
‎Resistance Levels: $1.820, $2.400

‎EIGENUSD Long-Term Trend: Bullish

‎EIGENLAYER has completed its bearish distribution phase, marking the end of its extended downward cycle. Accumulation by buyers is now underway, signaling the shift in market sentiment toward a bullish trajectory. The recent breakout from the consolidation range confirms the beginning of this trend reversal.
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‎Although the breakout appears modest, it coincides with the daily Relative Strength Index (RSI) entering the overbought region, which is temporarily limiting explosive upward momentum. This suggests that a short-term corrective pullback is possible before stronger bullish continuation occurs.
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‎The breakout’s validity is reinforced by a bullish candle close above the consolidation range. Once the expected minor bearish retracement plays out, the technical setup favors a strong continuation to the upside, opening the door for an aggressive bullish leg.

‎EIGENUSD Medium-Term Trend: Bullish

‎On the 4-hour timeframe, price action provides stronger confirmation of the prevailing bullish bias. Despite the daily RSI signaling potential for a short-term pullback, the 4-hour structure shows no signs of weakness. Instead, it reflects consistent bullish momentum.
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‎Recently, price tapped into a 4-hour order block and reacted strongly, further establishing the foundation for upward continuation. The 4-hour RSI is also approaching the overbought region, reflecting increasing buyer strength and providing confluence for a likely bullish extension.

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