‎EIGENUSD Continues Bearish Momentum Toward Support Levels
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‎EIGENUSD Continues Bearish Momentum Toward Key Support Levels

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Azeez Mustapha

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EIGENUSD Market Analysis – October 20

‎EIGENLAYER (‎EIGENUSD) extends its downward momentum as bearish pressure intensifies, signaling a continuation of the prevailing trend toward lower demand levels.

‎EIGENUSD Key Levels

‎Support Levels: $1.040, $0.430
‎Resistance Levels: $1.790, $2.300

‎EIGENUSD Continues Bearish Momentum Toward Key Support Levels

‎EIGENUSD Long-Term Trend: Bearish

‎EIGENLAYER maintains its bearish structure as price action confirms a decisive breakdown below the previous trendline support. Following this breach, a clear continuation of the downward trend has emerged, with the retested trendline now acting as resistance.

‎The temporary bullish correction observed between April and October 2025 formed a classic bearish flag pattern — a continuation structure that reinforced bearish dominance. This confirms the resumption of the broader downtrend as sellers regain full market control.

‎Currently, price is approaching the $1.040 demand zone with strong bearish momentum and is projected to target the $0.430 support level next. Since the daily Relative Strength Index (RSI) has not yet reached the oversold region, further downside movement remains likely before a potential short-term bullish retracement sets in.

‎EIGENUSD Continues Bearish Momentum Toward Key Support Levels

‎EIGENUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, price has recently confirmed a bearish break of structure following a rejection from a retest zone. The market remains under selling pressure as price trades close to the $1.040 demand area, with no strong signals of reversal yet.

‎The 4-hour Moving Average continues to validate the bearish sentiment as price action remains positioned below it. However, the 4-hour RSI shows oversold conditions, suggesting a minor bullish retracement could occur soon — potentially retesting a nearby order block — before the bearish continuation resumes.

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