‎EIGENUSD Eyes Bullish Reversal as Price Stabilizes Above Key Demand Zone

‎EIGENUSD Market Analysis- April 28

‎After reaching a major high in December 2024, EIGENUSD began a steep and consistent decline, which extended into early 2025.

‎EIGENUSD Key Levels:

‎Support Levels: $1.00500, $0.21600
‎Resistance Levels: $2.04300, $3.15800‎

‎EIGENUSD Long-Term Trend: Bearish‎

‎The bearish momentum was dominant throughout the opening months of the year, allowing minimal room for any meaningful bullish recovery. However, in April 2025, the market showed early signs of a shift as price action formed several bullish spikes, indicating underlying demand.
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‎Currently, EIGENUSD is hovering around the $1.00500 demand zone. Despite the prevailing bearish trend, price appears to be struggling to breach this crucial level. Notably, the daily Relative Strength Index (RSI) reflects increasing bullish momentum, gradually exiting the oversold territory. Additionally, a weakening bearish momentum is visible on the daily charts, enhancing the probability of a potential bullish reversal.
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‎At present, the price trades above the $1.00500 support level, and the daily Moving Average now aligns with a bullish outlook as the price holds above the indicator line. While technical signals favor a bullish bias, a confirmed breakout above the prevailing bearish trendline is necessary to validate a sustained upward move.

‎EIGENUSD Medium-Term Trend: Bullish Structure Developing

‎On the 4-hour timeframe, a clearer bullish structure is emerging. A recent bullish break of structure suggests that buyers are beginning to assert control. Furthermore, price has reacted strongly from a key 4-hour order block, signaling renewed buying interest.
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‎The $1.00500 demand zone continues to act as a critical support area, providing the momentum required for price to challenge and ultimately break above the underlying bearish trendline. Following this anticipated breakout, EIGENUSD is expected to continue its ascent toward higher major supply levels, strengthening the medium-term bullish case.

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