Market Overview for EIGENBTC on 2025-09-25

• Price surged 19.7% in 24 hours, capped at 1.651e-5 but pulled back to 1.579e-5
• Strong bullish momentum in morning hours, followed by fading volume and pullbacks
• RSI peaked in overbought territory, suggesting potential bearish reversal
• Volume spiked 2.8x in 17:15–19:45 ET, confirming intraday rally but diverging afterward
• Price remains above 50-period MA on 15-min chart, signaling intermediate bullish bias

EIGENBTC opened at 1.596e-5 at 11:00 AM ET on 2025-09-24, surged to a high of 1.651e-5 during the 24-hour window, and closed at 1.579e-5 at 11:00 AM ET on 2025-09-25. Total volume reached 25,488.85, with a notional turnover of approximately $4.14 (at 1 BTC = $62,500). The pair displayed a strong intraday rally followed by a fading bullish momentum.

Structure & Formations

The 15-minute chart shows a series of bullish and bearish reversals, with key support levels identified at 1.581e-5 and 1.578e-5. A notable bearish engulfing pattern emerged at 18:45–19:00 ET after a strong upwave, suggesting short-term bearish pressure. A doji at 19:30 ET confirmed indecision. Resistance appears to have strengthened at 1.613e-5 and 1.634e-5, both of which were tested and rejected during the session.

Moving Averages and MACD/RSI

EIGENBTC closed above the 50-period and 20-period moving averages on the 15-minute chart, showing a short-term bullish bias. The MACD line crossed above zero in the morning session, indicating positive momentum, but diverged as the price pulled back in the late hours. RSI reached overbought levels near 80 before reversing, hinting at a potential bearish correction in the near term.

Bollinger Bands and Fibonacci Retracements

Price traded within a moderate expansion of the Bollinger Bands, moving from the middle band toward the upper band during the afternoon, only to retract back near the middle. Fibonacci retracements from the 1.592e-5 to 1.651e-5 swing identified 61.8% and 38.2% levels at 1.622e-5 and 1.628e-5 respectively, both of which were touched or tested during the session.

Volume & Turnover

Volume spiked to 5,289.35 at 17:15–17:30 ET, confirming the bullish breakout above 1.613e-5. However, volume gradually faded in the afternoon as the price declined, indicating weakening conviction. Notional turnover aligned with price action, peaking at $0.82 during the strongest rally. Divergences between volume and price appear at 19:15–19:45 ET, suggesting a weakening of the rally’s legitimacy.

Backtest Hypothesis

A potential backtest strategy could focus on the 15-minute timeframe, entering long on a breakout above the 50-period MA with a stop loss placed just below the prior swing low (e.g., 1.581e-5). A take profit could target the 61.8% Fibonacci level at 1.622e-5. If RSI closes in overbought territory, a bearish bias could be triggered, with a short entry on a rejection of the upper Bollinger Band. This strategy would aim to capture short-term swings while managing risk using well-defined stop and limit levels.