EIGENUSD Maintains Bearish Momentum Despite Oversold Conditions

‎EIGENUSD Market Analysis- November 3

‎EIGENUSD continues to display strong bearish momentum as sellers maintain control over price action pushing the market toward deeper demand zones.

‎EIGENUSD Key Levels

Support Levels: $1.020, $0.490
‎Resistance Levels: $1.620, $2.180

‎EIGENUSD Long-Term Trend: Bearish

EIGENLAYER continues to extend its bearish momentum as price action shows a strong continuation following the breach of previous support structures. After retesting the broken bullish trend line, sellers regained control, driving price aggressively below the $1.020 level and pushing it closer to the $0.490 demand zone.
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‎On the daily chart, the Relative Strength Index (RSI) reveals that price has entered the oversold region, indicating that bearish pressure may be losing strength. This suggests the possibility of a temporary bullish retracement before the broader downtrend resumes. Nonetheless, the overall market structure remains strongly bearish, confirming sellers’ dominance.
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‎A potential corrective move is anticipated to retest the $1.020 level, which now serves as a resistance zone. As long as this level holds, the bearish structure is expected to remain intact, with price likely to revisit — and potentially breach — the $0.490 demand area in the coming sessions.

‎EIGENUSD Medium-Term Trend: Bearish

On the 4-hour timeframe, EIGENUSD maintains its bearish outlook as price continues to trade below the moving average, reinforcing the prevailing downtrend. However, the 4-hour RSI also indicates oversold conditions, signaling the likelihood of a short-term bullish pullback.
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‎This anticipated retracement could extend toward the nearest bearish order block before sellers regain momentum to continue the downward trend. The alignment between both the daily and 4-hour RSI readings strengthens the expectation of a temporary recovery phase within the broader bearish context.
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