The current chart for $EIGEN /USDT shows a significant downward trend, with the price recently hitting a low of $3.148. 📉 This decline of approximately 16.57% suggests bearish sentiment in the market. Traders should observe the volume levels, which are relatively stable at 42.72 million, indicating that the selling pressure is substantial but not overwhelming.

As we analyze the candlestick patterns, the recent formation suggests potential consolidation around the $3.32 mark. 📊 If the price can hold above this level, it could indicate a potential reversal or a stronger support zone. However, breaking below $3.148 would likely lead to further declines, making it crucial for traders to set appropriate stop-loss levels.

On the moving average front, short-term indicators may show a bearish crossover, which reinforces the risk of continued downward movement. 📉 Monitoring these indicators alongside wider market conditions will provide a clearer picture of potential future movements. Overall, caution is advised as the market navigates this trend.

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