The post EIGEN Technical Analysis Mar 1 appeared on BitcoinEthereumNews.com.

EIGEN is in a critical squeeze zone at $0.17; while RSI 30.91 gives an oversold signal, MACD shows a positive histogram, but the overall downtrend and Supertrend bearish structure make both scenarios possible. Current Market Situation EIGEN is currently trading at $0.17 and has been squeezed in the $0.17-$0.19 range with a 3.31% drop in the last 24 hours. Volume is at a moderate level of $19.58M, while the overall trend continues as a downtrend. RSI at 30.91 is in the oversold zone, signaling potential rebound, but despite the positive histogram on MACD, the lack of a close above EMA20 ($0.20) maintains short-term bearish pressure. The Supertrend indicator gives a bearish signal, and $0.24 resistance forms a strong barrier. In multi-timeframe (MTF) analysis, 8 strong levels were identified on 1D, 3D, and 1W charts: 1 support/3 resistances on 1D, 1 support/2 resistances on 3D, and 2 supports/2 resistances balance on 1W. Critical support at $0.1690 (score 84/100), resistances at $0.1850 (60/100), $0.2241 (61/100), and $0.4693 (62/100). This structure requires traders to be prepared for both directions; oversold conditions carry bullish potential, while low-volume drops can trigger a bearish breakout. Scenario 1: Bullish Scenario How Does This Scenario Occur? For the bullish scenario, a strong close above $0.1850 resistance and increasing volume are prerequisites. If this level breaks, testing EMA20 ($0.20) can gain momentum; RSI rising toward 50 and MACD histogram expansion provide confirmation. Supertrend turning bullish (above $0.24) confirms the trend change on the 1D chart. Breaking 3D and 1W resistances ($0.2241) in MTF requires Bitcoin stabilization for an altcoin rally. A 50%+ volume increase and positive candlestick patterns (e.g., hammer or engulfing) act as triggers; otherwise, it carries fake breakout risk. Target Levels First target $0.2241 (61/100 score), followed by $0.2837 as the main bullish target (25 score). With…

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Filed under: News - @ March 1, 2026 9:56 pm