EIGENUSD Market Analysis- September 30
EIGENUSD continues to display an overall bullish outlook in the long term, yet current technical signals suggest that the market may undergo a short-term corrective phase before resuming its upward trajectory.
EIGENUSD Key Levels
Support Levels: $1.080, $0.340
Resistance Levels: $2.120, $3.150
EIGENUSD Long-Term Trend: Bullish
The broader outlook for EIGENUSD remains bullish following a structural shift in May 2025 that transitioned market bias from bearish to bullish. This shift was confirmed by a decisive bullish break of structure, solidifying the uptrend. However, recent price action reveals signs of temporary exhaustion as EIGENUSD rejected the $2.120 supply level, signaling potential short-term resistance.
The rejection is further supported by technical indicators. On the daily Relative Strength Index (RSI), price touched the overbought zone, followed by a downturn in momentum as the RSI fell. This weakness coincides with the emergence of a bearish candle that has closed below the daily Moving Average—an added confluence supporting the possibility of a corrective retracement.
Despite these short-term bearish pressures, the larger price structure remains firmly bullish. The anticipated pullback is likely to serve as a retracement rather than a trend reversal. A test of the daily order block could provide a strong base for renewed bullish momentum, with buyers expected to re-enter and drive prices higher once the retracement completes.
EIGENUSD Medium-Term Trend: Bearish
On the 4-hour timeframe, the market reflects the beginning stages of the anticipated retracement. A failed low pattern has emerged, which is consistent with a bearish continuation setup and aligns with expectations of short-term weakness.
Additionally, the 4-hour RSI shows declining strength as the indicator trends down from the overbought region. This momentum shift increases the likelihood of EIGENUSD forming a lower-low structure, reinforcing the bearish bias in the medium term. Until price finds support near a significant demand zone, the bearish retracement is expected to dominate shorter timeframes.
Make money without lifting your fingers: Start using a world-class auto trading solution
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
