Market Overview for EigenLayer/Bitcoin (EIGENBTC) – October 4, 2025

• Price opened at $0.00001512 and closed at $0.00001493, down 1.25% over 24 hours.
• A sharp selloff in the early session saw a low of $0.00001480, followed by a partial rebound.
• Volume surged during the selloff but declined sharply afterward, suggesting fading momentum.
• RSI and MACD signal potential oversold conditions, but volume divergence raises caution.
• Bollinger Bands show volatility expansion, with price near the lower band and possible mean reversion.

EigenLayer/Bitcoin (EIGENBTC) opened at $0.00001512 on October 3 at 12:00 ET and closed at $0.00001493 on October 4 at 12:00 ET. The 24-hour range was between a high of $0.00001559 and a low of $0.00001480. Total traded volume was 66,959.06, with a notional turnover of approximately $1.002 (based on mid-range price of $0.00001519).

The candlestick pattern over the past 24 hours reveals a bearish bias with a strong selloff between 17:15 and 19:00 ET, during which the price dropped from $0.00001528 to $0.00001488. This phase was marked by a long lower shadow and a bearish engulfing pattern, suggesting increased bearish sentiment. However, the following hours saw a consolidation and minor rebound, forming a potential reversal base. Key support appears near $0.00001490–1495, while resistance is likely near $0.00001520–1525.

On the 15-minute chart, the 20-period moving average is trending downward, below the 50-period line, confirming bearish momentum. The 50-period MA appears to act as a resistance line, while the price has not yet tested the 100-period MA on the daily chart. Volatility expansion in the morning session pushed the price to the lower Bollinger Band, indicating potential for a reversion to the mean, though bearish pressure remains strong.

MACD shows a bearish crossover with the histogram in negative territory, aligning with the price drop. RSI has dipped into the oversold zone, hovering around 28, which historically may suggest a short-term rebound. However, volume diverges during this decline—strong volume during the fall is followed by low volume during the rebound—raising concerns about follow-through buying. Fibonacci retracement levels from the recent high at $0.00001559 to the low at $0.00001480 indicate a 61.8% retracement at $0.00001514, which may act as a near-term resistance level.

Backtest Hypothesis

A potential backtesting strategy would involve using RSI and MACD to trigger a long entry when RSI crosses below 30 and MACD shows a bullish crossover in a consolidating range. Stop-loss could be placed below the recent low of $0.00001480, with a target near the 61.8% retracement level at $0.00001514. Given the current setup, the strategy may have had higher success in a lower-volatility environment. However, the recent divergence in volume and the bearish bias in moving averages suggest caution. A modification could include a trailing stop or a short bias in the near term.