‎EIGENUSD Eyes Bullish Retracement Within a Dominant Bearish Structure

‎EIGENUSD Market Analysis- November 10

‎EIGENUSD continues to exhibit a dominant bearish outlook, yet recent price action suggests a potential short-term bullish retracement as buyers attempt to recover from the prevailing downward momentum.

‎EIGENUSD Key Levels

‎Support Levels: $1.340, $0.720
‎Resistance Levels: $1.930, $2.340

‎EIGENUSD Long-Term Trend: Bearish

‎EIGENLAYER prepares for a potential bullish retracement as price finds support at the $0.720 demand level. In early October 2025, the price reached a major high at the $1.930 supply level, after which strong selling pressure took over, leading to a sustained bearish move.
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‎Following the break of the $1.340 demand level, bearish momentum intensified as sellers regained dominance, and the level was retested before price continued its decline. During the downward movement, a compact descending trend line developed, guiding the market toward the $0.720 demand level.
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‎Upon reaching this demand zone, EIGENUSD also tested the lower boundary of the bearish trend line, where a bullish reaction began to emerge. The daily Relative Strength Index (RSI) shows a rebound from the oversold region, adding confluence to the ongoing bullish reaction. However, this upside move is considered a corrective retracement within the broader bearish structure, as the dominant trend remains bearish overall.

‎EIGENUSD Medium-Term Trend: Bullish

‎On the 4-hour chart, price action confirms the early stages of a bullish retracement as a bullish shift in market structure has formed. The creation of a higher high further strengthens the possibility of continued upward movement in the short term.
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‎This bullish retracement is expected to extend toward the bearish trend line resistance, where selling pressure may likely resume. Once price reaches this resistance zone, a potential bearish continuation could emerge, targeting the $0.720 demand level once again, with the possibility of breaking below it.

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