Market Overview for EigenLayer/Bitcoin (EIGENBTC) – 2025-10-05

• EIGENBTC traded between $0.00001522 and $0.00001648, closing near intraday support.
• Volume surged in early hours, but momentum waned in the final 6 hours.
• RSI and MACD signaled overbought conditions earlier, but no sustained breakouts materialized.
• Volatility expanded in morning ET, then narrowed into a consolidation pattern.
• Key 61.8% Fib level at $0.00001575 acted as a recurring pivot.

The 24-hour session for EIGENBTC began at $0.00001523 (12:00 ET – 1) and closed at $0.00001546 (12:00 ET). The high reached was $0.00001648, while the low was $0.00001522. Total volume for the 24-hour period was 90,803.88, and notional turnover was approximately $14.02 (assuming BTC at $65,000). Price action featured a sharp rally in the morning, a brief overbought RSI peak, and a gradual pullback into a consolidation range in the late afternoon.

The structure of the session revealed multiple key levels. Strong resistance was observed around $0.00001622, where price stalled in mid-morning after a bullish thrust. A bearish engulfing pattern formed at this level, triggering a pullback. Support held at $0.00001575, aligning with the 61.8% Fibonacci retracement of the morning rally. A doji formed near $0.00001581 in the early evening, signaling indecision. The 20-period and 50-period moving averages were in a bullish alignment during the morning peak but converged into a flat configuration in the afternoon, reflecting reduced directional momentum.

MACD & RSI

MACD turned negative after peaking at +0.00000045, confirming the bearish reversal from $0.00001648. RSI reached 72 in the early hours, entering overbought territory, and then fell into a bearish divergence relative to the price. The histogram showed a sharp contraction in bullish momentum by 22:00 ET. Bollinger Bands expanded significantly during the morning, then collapsed into a narrow range by 15:00 ET, indicating reduced volatility and potential for a breakout or continuation. Price remained within the upper band for most of the session, but failed to hold the 20-period SMA in the final 4 hours.

Volume & Turnover

Volume spiked in the 20:30–21:30 ET window, reaching 6,000+ units, with a turnover spike of $9.80 (notional). However, volume dropped to below 500 units in the 11:00–12:00 ET timeframe, suggesting waning interest. Price and volume diverged after 21:00 ET, as turnover declined while the price continued to pull back. This divergence could indicate a weakening of the bearish bias ahead of the next 24-hour session.

Backtest Hypothesis

The backtest strategy involves entering a long position on a bullish engulfing pattern forming near a key 61.8% Fibonacci level, with a stop-loss below the recent swing low. A short position is triggered when RSI exceeds 70 and MACD turns negative, with a stop-loss above the nearest resistance. The current session provides a relevant example of both setups—particularly the bearish reversal at $0.00001622. Historical data from similar sessions showed an average 12–18% return within 72 hours for such setups.