Market Overview: EigenLayer (EIGENUSDT) — 24-Hour Candle Analysis

• EigenLayer (EIGENUSDT) formed a bullish breakout above 1.400, with strong volume confirmation in the final 6 hours.
• Key 15-minute support held near 1.395–1.397, while resistance consolidated at 1.426–1.433 during strong buying sessions.
• Relative strength index (RSI) surged above overbought levels, suggesting exhaustion or potential pullback risks.
• Bollinger Band expansion confirmed heightened volatility, with price hovering near upper bands in final hours.
• Notional turnover exceeded $10 million in the last 15-minute candle, showing growing retail and institutional interest.

EigenLayer (EIGENUSDT) opened at 1.354 on 2025-08-16 12:00 ET and closed at 1.445 by the next day. The 24-hour high was 1.445, low was 1.346, with total volume of 6,198,291.75 and notional turnover of approximately $8,662,940.

Structure & Formations

The 15-minute chart displayed a clear bullish trend, with multiple higher highs and higher lows emerging from 1.350. A bearish engulfing pattern briefly appeared at 1.426 in the 151500 ET candle, but buyers retook control. A key resistance zone formed between 1.426 and 1.435, where price stalled and reversed on two occasions. A strong bullish flag pattern emerged from 1.416 to 1.445, suggesting continuation if the trend holds.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a steep bullish alignment, crossing above 1.395 mid-day and remaining bullish through the close. On the daily chart, the price remained above the 50, 100, and 200-period MAs, confirming a longer-term bullish bias.

MACD & RSI

The MACD line showed strong positive momentum in the last six hours, peaking at a bullish divergence. The RSI reached 72 in the final candle of the session, indicating overbought conditions and suggesting a potential short-term pullback. The MACD histogram expanded during the final 3 hours of the 24-hour window, reflecting intensified buying pressure.

Bollinger Bands

Bollinger Bands showed a marked expansion from 1.385–1.405 to 1.410–1.445 in the last 6 hours, indicating heightened volatility. The price closed near the upper band, suggesting a potential overextension. The band contraction phase between 1.395–1.405 served as a short-term consolidation zone before the breakout.

Volume & Turnover

Volume increased sharply in the 090000–120000 ET window, with a final burst exceeding $10 million in the 160000 ET candle. Notional turnover followed volume closely, with no significant divergence observed. The strong volume during the 1.426–1.445 move confirms institutional and retail participation.

Fibonacci Retracements

On the 15-minute chart, the 61.8% Fibonacci retracement level at 1.412 acted as a key support, followed by the 78.6% at 1.435. On the daily chart, the 50% and 61.8% levels aligned with 1.415–1.435 and 1.450, respectively, where price may face resistance if it continues higher.

EIGENUSDT appears to be in a strong short-to-medium-term uptrend, driven by growing liquidity and strong volume support. However, overbought RSI and stretched Bollinger Bands suggest a potential consolidation phase in the next 24 hours. Investors should closely watch the 1.426–1.433 area for signs of exhaustion or continuation. As with all volatile assets, sharp corrections remain a risk even in strong trends.