EIGEN/USDT Breakout Countdown: Descending Triangle Retest
EIGEN/USDT is currently at a critical technical juncture. After months of downward pressure, the pair is now showing signs of a major bullish breakout from a descending triangle pattern, which is often a strong reversal signal. Are we about to witness an explosive upside move? Let’s dive into the setup.
🧠 Key Technical Structure
📌 Pattern: Descending Triangle (Bullish Reversal Potential)
Formed since December 2024
Strong horizontal support between $1.05–$1.28 (yellow box), tested multiple times
Series of lower highs forming a descending trendline, now being challenged by price action
This structure hints at heavy accumulation beneath resistance
📌 Volume: Gradually increasing near breakout zone — a sign of accumulation by smart money
📌 Breakout Confirmation: A daily close above $1.30 with strong volume will validate the breakout, potentially triggering a powerful move.
🟢 Bullish Scenario (Confirmed Breakout)
If EIGEN breaks and successfully retests the descending trendline, a major rally could follow, with these targets in sight:
🎯 Upside Price Targets:
1. $1.60 – Minor resistance and previous support flip
2. $1.98 – Previous distribution zone
3. $2.34 – Horizontal resistance from past structure
4. $2.98 – Mid-Fibonacci extension target
5. $4.01 – Full height target from triangle breakout
6. $5.48–$5.65 – Long-term target from historical resistance
✅ This structure aligns with a classic impulsive wave pattern following a major technical breakout.
🔴 Bearish Scenario (Failed Breakout / Fakeout)
Not all breakouts are successful. Here's what to watch out for:
🔻 If price fails to hold above $1.28, and breaks below $1.05, the structure turns bearish:
Opens the door for a trend continuation downward
Next supports lie at $0.90–$0.80, and possibly $0.65–$0.60
Indicates that sellers are still in control and accumulation has failed
🚫 This would invalidate the bullish setup and signal caution for long positions.
📌 Suggested Trading Plan
Entry Strategy:
Conservative: Wait for a confirmed breakout and successful retest above $1.30
Aggressive: Enter on intraday breakout with strong volume above trendline
Stop Loss: Below triangle support (~$1.02–$1.05)
Take Profits (TP): Scale out at $1.60 / $1.98 / $2.34 / $2.98 / $4.01 / $5.48
💬 Conclusion
EIGEN is on the verge of a major technical move. A clean breakout from the descending triangle could mark the transition from bearish consolidation to bullish expansion — a structure often seen before explosive rallies in altcoins.
Always manage risk wisely, stay alert for retests, and never chase entries without confirmation. This is a setup worth watching closely in the coming days!
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