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EIGENUSD Price Analysis – April 7th
EIGENUSD faces sustained downtrend as Bearish pressure deepens showing undisputed dominance of sellers.
EigenLayer Key Levels:
Support Levels: $2.070, $1.410
Resistance Levels: $0.990, $0.600
EIGENUSD Long-Term Trend: Bearish (Daily Chart)
EIGENUSD has been on a consistent downward trajectory since the start of 2025, creating a series of lower lows with no visible signs of a bullish reversal. The price recently broke below the $2.070 level, triggering a steeper decline characterized by dominant bearish candlestick formations. This has reaffirmed the bearish sentiment surrounding the asset.
The prolonged selloff has been reinforced by the daily Moving Average, which continues to act as a dynamic resistance, keeping price action below it and maintaining a strong bearish crypto signal. Although the intensity of the decline has slightly diminished compared to the sharp fall observed in early February, the market remains under bearish control, with intermittent consolidation phases offering little hope for a meaningful recovery.
Of note, the Relative Strength Index (RSI) on the daily chart has reached oversold territory. While this typically suggests a potential for bullish correction or reversal, such a scenario remains speculative without a clear break above the prevailing bearish structure or confirmation of trend reversal.
Medium-Term Trend: Bearish (4-Hour Chart)
On the 4-hour timeframe, price continues to exhibit classic bearish behavior, printing lower lows following rejection at a descending trendline resistance. The market structure remains firmly bearish, with the 4-hour Moving Average offering further confirmation by aligning with the downtrend.
Although the RSI on this timeframe also signals an oversold condition, which could attract buying interest, a sustainable bullish move will require a confirmed structural shift to the upside. Until then, bearish pressure is likely to persist.
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