Pattern: Bullish Hammer Reversal (Demand Zone Reaction)
The chart shows EIGEN forming a Bullish Hammer pattern right above its last demand zone, indicating that buyers are defending this critical support level. This setup suggests a potential short-term reversal and a shift in momentum from bearish to bullish.
Key Observations
🔹 Demand Zone: $0.70 – $0.75 — acting as the last major accumulation area where buying pressure is visible.
🔹 Supply Zone: $1.10 – $1.20 — serves as the next key resistance where sellers may step in.
🔹 Bullish Hammer Pattern: Signals possible end of the downtrend and early signs of recovery momentum.
🔹 Bull Bear Power (BBP): Currently improving from deep negative territory (−0.30), showing decreasing bearish pressure and gradual bullish momentum build-up.
🔹 Structure: Price is attempting a rebound from a long-term support base, potentially setting up for a trend reversal if confirmed by higher highs in the coming sessions.
Potential Move
If EIGEN sustains above $0.75, the next upside targets could be:
🎯 Target 1: $0.92 — short-term resistance.
🎯 Target 2: $1 — The Physicologycal Number.
A breakdown below $0.70, however, could invalidate the setup and open room for further downside.
Summary:
EIGEN is showing a bullish hammer reversal at a critical demand zone, with improving BBP momentum suggesting that sellers are losing control. A sustained hold above $0.75 may trigger a recovery rally toward the $0.92–$1.15 range.
#coinpediamarkets #EIGEN #CryptoAnalysis #EIGENUSDT #TechnicalAnalysis #CryptoTraders #DemandZone #SupplyZone
The chart shows EIGEN forming a Bullish Hammer pattern right above its last demand zone, indicating that buyers are defending this critical support level. This setup suggests a potential short-term reversal and a shift in momentum from bearish to bullish.
Key Observations
🔹 Demand Zone: $0.70 – $0.75 — acting as the last major accumulation area where buying pressure is visible.
🔹 Supply Zone: $1.10 – $1.20 — serves as the next key resistance where sellers may step in.
🔹 Bullish Hammer Pattern: Signals possible end of the downtrend and early signs of recovery momentum.
🔹 Bull Bear Power (BBP): Currently improving from deep negative territory (−0.30), showing decreasing bearish pressure and gradual bullish momentum build-up.
🔹 Structure: Price is attempting a rebound from a long-term support base, potentially setting up for a trend reversal if confirmed by higher highs in the coming sessions.
Potential Move
If EIGEN sustains above $0.75, the next upside targets could be:
🎯 Target 1: $0.92 — short-term resistance.
🎯 Target 2: $1 — The Physicologycal Number.
A breakdown below $0.70, however, could invalidate the setup and open room for further downside.
Summary:
EIGEN is showing a bullish hammer reversal at a critical demand zone, with improving BBP momentum suggesting that sellers are losing control. A sustained hold above $0.75 may trigger a recovery rally toward the $0.92–$1.15 range.
#coinpediamarkets #EIGEN #CryptoAnalysis #EIGENUSDT #TechnicalAnalysis #CryptoTraders #DemandZone #SupplyZone
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน