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Summary
• Price drifted lower on the day, forming a bearish engulfing pattern near 5.48e-06.
• RSI dipped into oversold territory, suggesting potential short-term buying interest.
• Bollinger Bands tightened during overnight hours, indicating possible volatility expansion.
• Volume surged in the late afternoon session but failed to confirm a reversal.
• 5.03e-06 appears as a strong support level tested twice without a break.
EigenLayer/Bitcoin (EIGENBTC) opened at 5.21e-06 on 2025-12-10 at 12:00 ET, reached a high of 5.63e-06, and closed at 5.01e-06 on 2025-12-11 at 12:00 ET, after touching a low of 5.00e-06. Total volume amounted to 50,485.99, with turnover reaching $25.39 (based on
equivalent).Structure and Candlestick Patterns
Price action on the 5-minute chart displayed a bearish engulfing formation near the intraday high of 5.48e-06, followed by a consolidation phase that failed to reclaim earlier bullish momentum. A strong rejection at 5.03e-06 appears twice, forming a potential short-term support level. A doji formed near the close, signaling indecision and possible exhaustion of bearish pressure.
Moving Averages and Momentum
Short-term averages (20/50 SMA) remained above price for most of the day, indicating bearish divergence from trend. RSI dipped below 30 into oversold territory but failed to trigger a meaningful bounce, suggesting potential for a retest of support or a delayed reversal. MACD remained bearish with negative divergence across the session.
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Volatility and Volume Dynamics
Bollinger Bands contracted sharply overnight before widening in the early morning session, hinting at a potential breakout or breakdown. Volume spiked in the late afternoon and early evening (around 19:00 to 20:00 ET), but price failed to hold the gains, indicating weakness. Turnover remained in line with price movement, showing no divergence.
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Fibonacci Retracements and Key Levels
A retracement of the key swing from 5.63e-06 to 5.00e-06 places 5.32e-06 (38.2%) and 5.19e-06 (61.8%) as key psychological levels. Price has bounced off 5.03e-06 twice, and a break below this level could target 5e-06 and beyond.
The price may test 5.03e-06 again in the next 24 hours for a potential break or bounce, with a risk of further consolidation into a range-bound pattern. Investors should watch for any unexpected volume spikes or divergence in momentum indicators as early signals of a reversal.
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