Technical analysis by CryptoNuclear about Symbol EIGEN: Buy recommendation (8/7/2025)

🧠 Technical Analysis: 🔸 Market Structure: The price is currently sitting around 1.15 USDT, right above a key demand zone (highlighted in yellow) that has been tested multiple times since March 2025. This area between 1.00 – 1.20 USDT acts as a major support zone. 🔸 Key Resistance Levels: 1.430 USDT → short-term resistance 1.604 USDT → significant resistance (previous support turned resistance) Higher resistance targets: 1.980, 2.341, 2.982, 4.018, and 5.480 USDT 🔸 Key Support Levels: 1.154 USDT → current price level Main demand zone: 1.00 – 1.20 USDT If broken, the next major support lies around 0.80 USDT --- 📈 Bullish Scenario: If the 1.00 – 1.20 USDT demand zone holds and the price prints a higher low, a bullish reversal is possible. Short-term target: 1.43 and 1.60 USDT If 1.60 is broken with strong momentum, the next targets are: 1.98 – 2.34 USDT Bullish confirmation will be stronger if the price breaks and closes above 1.60 USDT on the daily chart ✅ Bullish Confirmation: Bullish engulfing candle near support Rising volume on upward moves Breaking above previous lower highs --- 📉 Bearish Scenario: If the price breaks down below the 1.00 – 1.15 USDT support zone, downside targets shift toward 0.80 – 0.66 USDT A descending triangle pattern may be forming if the price continues making lower highs while testing the same support ⚠️ Bearish Confirmation: Strong bearish candle closing below support High sell volume New lower low after a failed bounce --- 🔺 Pattern Analysis: The price has been forming a range-bound pattern between 1.00 – 1.60 USDT A potential double bottom could form if this support holds and price bounces up again Otherwise, it may evolve into a descending triangle, signaling bearish pressure --- 🔖 Conclusion: EIGEN is at a critical support zone that could define its next major move. A strong reaction here could signal a bullish reversal, while a breakdown could open the door to deeper declines. This is a key level to watch. #EIGEN #EIGENUSDT #CryptoAnalysis #Altcoin #TechnicalAnalysis #SupportResistance #BullishScenario #BearishScenario #CryptoTrading #ChartAnalysis