EigenLayer Price Forecast: November 16
Today, the EIGENUSD pair is attempting the upcoming big bounce despite the increasing sell pressure capturing significant attention as top analysts predict the crypto market is gearing up for substantial recovery and gains, and a swift increase is expected to follow soon. Hence, a successful breakout above the $3.76 peak level could propel the crypto price toward the $4.00 upper resistance level in the future, shaping the price trajectory as it approaches the anticipated target.
Key Levels:
Resistance Levels: $3.49, $3.50, $3.51
Support Levels: $3.09, $3.08, $3.07
EIGENUSD Long-term Trend: Bearish (4H Chart)
The EIGENUSD pair is attempting the upcoming big bounce while trending below the supply levels in its higher time frame. The interference of short-term traders to the $2.35 low level in the previous action contributed to its bearish momentum in its recent price level. The price responded to the shift in the market structure and is currently above the moving averages, suggesting a bullish trend.
The breakout and the start of the bullish trend are seen below the EMA-50 at the $2.44 resistance level as the 4-hour chart opens today, suggesting the EigenLayer price is attempting the upcoming big bounce as the bulls continues with the journey to the north with an intraday gain.
Hence, a heavy surge by the bulls above the $3.67 prior peak supply will offer strong resistance to the crypto price as it attempts the upcoming big bounce.
Additionally, EIGENUSD is indicating more upside potential as it attempts the upcoming big bounce and anticipates the coin will continue to gain strength; this might reach an upper resistance level of $4.00 in the days ahead in its long-term perspective.
EIGENUSD Short-term Trend: Bearish (1H Chart)
The EIGENUSD pair is attempting the upcoming big bounce as the bulls begin their uphill trend to the resistance area on the medium-term outlook. 
The bears’ pressure on the coin at the $2.39 support value has contributed to the crypto market staying below the supply levels in its recent low.
The EigenLayer pair is attempting the upcoming big bounce as the coin price reaches a $2.44 high mark below the EMA-50 as the 1-hourly chart resumes today, suggesting possible future gains are certain. However, with continued buying pressure, the coin price could reach as high as $3.45, denoting a rise in volatility.
In addition, the momentum indicator shows that the price of EIGENUSD will still bounce up. We expect the price distribution to reach the $4.00 supply level and beyond in the coming days as the token attempts the upcoming big bounce in its short-term outlook.
Place winning EigenLayer trades with us. Get EIGENUSD here
Leave a Reply