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EIGENUSD Price Analysis – April 15th
EIGENUSD continues to trend lower, maintaining its long-term bearish outlook since initiating a decline from the $4.09740 supply level.
EigenLayer Key Levels:
Support Levels: $1.11980, $0.09500
Resistance Levels: $2.43600, $4.09740
EIGENUSD Long-Term Trend: Bearish (Daily Chart)
This bearish move swept below the previous major low recorded in early November 2024, establishing a new lower low and reinforcing the dominant downtrend. Although buyers attempted to regain control, their efforts were quickly suppressed as sellers re-entered the market, reversing any short-lived bullish momentum.
The most notable bullish correction occurred in March, when price temporarily rallied to retest the $2.43600 supply level. This move, however, triggered renewed selling pressure that drove price further down, eventually breaching the critical $1.11980 demand zone. During this continued decline, price action has formed a descending triangle pattern—a classic indication of potential bearish continuation.
Despite this setup, the Relative Strength Index (RSI) on the daily chart has now dipped into oversold territory. This suggests that a short-term bullish retracement may be imminent before the broader bearish trend resumes. A breakdown below the triangle would confirm the bearish continuation, while a bullish breakout from the pattern could signal the beginning of a trend reversal.
EIGENUSD Medium-Term Trend: Bullish (4-Hour Chart)
On the 4-hour chart, the medium-term outlook is beginning to shift, with early signs pointing toward a potential bullish reversal. The RSI on this timeframe also indicates oversold conditions, aligning with the daily chart’s crypto signal. This convergence of oversold RSI readings across multiple timeframes strengthens the case for a short-term bullish move.
Adding to the bullish sentiment, a bullish engulfing candlestick pattern has recently formed, suggesting a possible momentum shift in favor of buyers. Should this upward momentum gain traction, EIGENUSD is expected to fill the Fair Value Gap (FVG) on the 4-hour chart as price trends higher.
However, the $2.43600 supply level remains a critical resistance zone. If price approaches this level, it is likely to face significant selling pressure. A failure to break above this zone would keep the overall bearish structure intact.
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