Market Overview: EigenLayer (EIGENUSDT) 24-Hour Technical Summary – 2025-07-17

EigenLayer (EIGENUSDT) opened at $1.444 on 2025-07-16 at 12:00 ET and closed at $1.541 on 2025-07-17 at 12:00 ET, reaching a high of $1.614 and a low of $1.425. Total 24-hour volume was 33,095,496.49 and notional turnover was $49,899,092.31.

• Price surged 6.6% from a 24-hour low of $1.425 to a high of $1.614, breaking above a key resistance cluster near $1.52–1.53.
• A bullish engulfing pattern formed near $1.52–1.53, confirming a reversal in short-term bearish momentum.
• RSI spiked to overbought levels (72–75) during the morning session, indicating aggressive buying pressure.
• Bollinger Bands expanded significantly during the rally, signaling heightened volatility and potential consolidation.
• Volume spiked above average during the breakout, confirming strength in the upward move.

Structure & Formations

The 15-minute chart reveals a clear bullish reversal pattern following a consolidation phase between $1.42 and $1.52. A bullish engulfing pattern emerged around $1.52–1.53, with a long bullish candle confirming the breakout. Price then surged past the $1.56 and $1.60 levels, with no immediate resistance ahead. A critical support level appears at $1.425, the 24-hour low and a previous floor for the asset.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, forming a golden cross and signaling a short-term bullish bias. The 50-period MA is now at ~$1.495, acting as dynamic support. For the daily chart, the 50- and 200-period MAs remain in bullish alignment, suggesting the broader trend remains intact.

MACD & RSI

The MACD crossed into positive territory mid-morning and remained bullish throughout the session, confirming the upward thrust. The RSI peaked at 75 during the breakout, indicating overbought conditions and a potential pullback risk. However, the RSI has not yet shown a bearish divergence, suggesting the rally could continue unless a reversal candle forms near $1.58–1.60.

Bollinger Bands

Bollinger Bands expanded significantly during the rally, with the upper band reaching $1.61 and the lower band falling to $1.43. Price closed near the upper band, indicating a strong move and potential for a pullback or consolidation. A contraction in the bands would signal a potential reversal or continuation phase.

Volume & Turnover

Volume surged during the breakout near $1.52–1.61, with the largest 15-minute turnover occurring around $1.58–1.61, confirming strong buying interest. Notional turnover increased in tandem with the price action, with no significant divergence observed. However, volume during the consolidation phase was lower, suggesting a potential for a retest of the $1.52–1.53 level.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing from $1.425 to $1.614, key levels include 38.2% at $1.569, 61.8% at $1.498, and 78.6% at $1.470. Price has already tested the 61.8% and 78.6% levels as support, suggesting the 38.2% retrace could act as a potential target for a consolidation or pullback.

In the next 24 hours, EigenLayer may test the $1.58–1.60 range as a potential resistance zone, with a retest of $1.52–1.53 likely if a pullback occurs. Traders should watch for a reversal pattern or a breakdown of the 20-period MA as a bearish signal. As always, market conditions can shift rapidly, especially in a high-volatility asset like EigenLayer.