EIGENUSD Price Action Signals Further Downside Below $0.80 Support

EIGENUSD Market Analysis- October 28

‎EIGENUSD continues to exhibit strong bearish momentum as price action confirms a structural shift below key support levels, signaling the continuation of the downward trend.

‎EIGENUSD Key Levels

‎Support Levels: $0.800, $0.060
‎Resistance Levels: $1.950, $3.130

‎EIGENUSD Long-Term Trend: Bearish

‎EIGENLAYER has entered a renewed bearish phase, marking the end of its prolonged consolidation and signaling a continuation of the broader downtrend. The consolidation phase began in early May 2025, with price ranging between the $1.950 supply level and the $0.800 demand zone until the recent bearish breakout.
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‎In October, price briefly swept liquidity above the $1.950 supply level before forming a strong bearish candle that slightly breached the $0.800 demand zone, confirming a clear bearish structural shift. This shift signifies the conclusion of the consolidation period and the resumption of the dominant bearish trend.
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‎Price structure now shows consistent lower highs, reinforcing the bearish outlook. With momentum favoring sellers, EIGENUSD is expected to decisively break below the $0.800 support level and potentially extend toward the $0.060 demand zone in the coming weeks.

‎EIGENUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, EIGENUSD continues to display a well-defined bearish structure characterized by the formation of lower highs and lower lows. The Relative Strength Index (RSI) confirms declining momentum, supporting ongoing selling pressure in the market.
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‎Additionally, the 4-hour Moving Average reinforces the bearish sentiment as price remains positioned below the indicator, further validating downside bias. Price is now approaching the critical $0.800 level once again, with increased likelihood of a confirmed break and close below this key support area, signaling continuation toward deeper lows.
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