EIGEN is currently at 0.2346, down 6.7% over 24 hours—the steepest drop among major coins. It has slid all the way from 0.2515. It’s oversold in the short term, but there’s still no sign of a high-volume bottom. Strategy: place two staggered buy orders between 0.2280 and 0.2320, with a stop-loss at 0.2200 (exit if it breaks below this round-number level). Take profit at 0.2450 for the first target and 0.2515 for the second, filling the gap from the drop. Limit this position to 12% of your portfolio.
The rationale is that after a single-day drop of more than 5%, the odds of mean reversion are relatively high. Meanwhile, BTC is up 1.1% at 82,466 and BNB is up 0.9% at 725.82, so the broader market is holding up, creating room for a rebound. But the price must hold above 0.2280 for this setup to remain valid; if it breaks below, stand aside. On the flip side, if it keeps failing to break 0.2515, reversing course and going short may be more profitable.
What time of day do you trade these oversold rebound setups? #EIGEN
The rationale is that after a single-day drop of more than 5%, the odds of mean reversion are relatively high. Meanwhile, BTC is up 1.1% at 82,466 and BNB is up 0.9% at 725.82, so the broader market is holding up, creating room for a rebound. But the price must hold above 0.2280 for this setup to remain valid; if it breaks below, stand aside. On the flip side, if it keeps failing to break 0.2515, reversing course and going short may be more profitable.
What time of day do you trade these oversold rebound setups? #EIGEN