#eigen rebounded from support at the 200-day moving average near $0.22, gaining around 10% over the past 24 hours to trade at $0.248.
Trading volume has increased noticeably recently, with spot buying in the lead as the price structure continues to recover. The key short-term level to watch is the previous high of $0.286, where significant liquidation liquidity is concentrated.
However, activity in the futures market remains subdued, and the funding rate is negative, indicating that bullish conviction is still lacking.
As long as $0.22 holds, the rebound thesis remains intact; a break above $0.286 could open the door to further gains.
Trading volume has increased noticeably recently, with spot buying in the lead as the price structure continues to recover. The key short-term level to watch is the previous high of $0.286, where significant liquidation liquidity is concentrated.
However, activity in the futures market remains subdued, and the funding rate is negative, indicating that bullish conviction is still lacking.
As long as $0.22 holds, the rebound thesis remains intact; a break above $0.286 could open the door to further gains.