Market Overview: EigenLayer (EIGENUSDT) 24-Hour Technical Summary

• EigenLayer (EIGENUSDT) fell sharply from $1.388 to $1.243 before a late-day rebound to $1.362.
• Key support at $1.290 held, but bears may target $1.240 for further downside.
• Volatility surged midday, with a 36-hour range of 12.8% and a 24-hour turnover of $62.8 million.
• MACD divergence suggests weakening momentum despite a modest price recovery.
• RSI remains neutral, but a 61.8% Fibonacci retracement at $1.350 could cap gains.

EigenLayer (EIGENUSDT) opened at $1.376 on 2025-07-23 12:00 ET, reached a high of $1.388, and a low of $1.243 before closing at $1.362 at 12:00 ET on 2025-07-24. The 24-hour volume was 10.9 million contracts, with a notional turnover of $62.8 million.

Structure & Formations

Price action formed a bearish breakdown and subsequent bullish countermove, with a key support at $1.290 showing resilience. A large bearish candle at $1.243 and a bullish engulfing pattern at $1.308–$1.312 suggest potential for a consolidation phase. A doji near $1.308 hints at indecision.

Moving Averages

On the 15-minute chart, price closed above the 20-period and 50-period SMAs, suggesting short-term bullish momentum. However, the daily chart shows price below the 200-period SMA, indicating a longer-term bearish bias.

MACD & RSI

MACD turned positive in the final hours, but histogram divergence suggests weakening bullish momentum. RSI is currently at 52, indicating a neutral to slightly bullish stance, though without a clear breakout above overbought territory.

Bollinger Bands

Volatility expanded significantly during the midday selloff, with price reaching the lower band at $1.243. The recent recovery has brought price back toward the midline, suggesting potential for a retest of the upper band at $1.388.

Volume & Turnover

Volume spiked during the selloff, with the most intense activity at $1.243 and $1.273. Turnover and volume were aligned during this phase, confirming bearish conviction. A smaller volume surge during the late recovery suggests limited follow-through buying.

Fibonacci Retracements

The 61.8% Fibonacci retracement of the $1.243–$1.388 move sits at $1.350, which appears to be a key resistance level. A break above this could target $1.388, but a failure to hold above $1.350 may signal a return to $1.290 or lower.

EIGENUSDT may continue to consolidate between $1.290 and $1.350 in the next 24 hours, with a possible test of the $1.388 high if buyers regain control. Investors should remain cautious of a potential breakdown below $1.290, which could trigger renewed bearish pressure.