Market Overview for EigenLayer (EIGENUSDT): Volatility and Momentum Shifts

• EigenLayer (EIGENUSDT) traded in a broad 1.42–1.596 range, closing near 1.473 after a sharp 12-hour decline.
• A bearish engulfing pattern formed near 1.513, confirming a key short-term resistance breakdown.
• Volume surged during the 1.513–1.442 drop, suggesting strong selling pressure and potential capitulation.
• RSI entered oversold territory below 30, hinting at possible near-term bounce but not a reversal.
• Bollinger Bands widened significantly during the decline, indicating rising volatility and uncertainty.

EigenLayer (EIGENUSDT) opened at 1.589 on 2025-07-21 at 12:00 ET and closed at 1.473 on 2025-07-22 at 12:00 ET, with a high of 1.596 and a low of 1.42. Total volume for the 24-hour window was 10,593,710.43, and notional turnover reached approximately $15.78 million.

Structure & Formations

The price action formed a bearish engulfing pattern around the 1.513–1.539 candle, signaling a shift in sentiment from bullish to bearish. A key support level appears to be forming near 1.42–1.45, where the price found a floor for several hours. A potential short-term resistance now appears at 1.48–1.49, with a 61.8% Fibonacci retracement of the 1.42–1.486 move placing a critical level at 1.456.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below the price during the decline, confirming bearish momentum. On the daily chart, the price is well below the 50, 100, and 200-period MAs, suggesting continued bearish bias in the short-to-medium term.

MACD & RSI

The MACD crossed below the signal line during the early hours of the decline, confirming bearish momentum. RSI dropped into oversold territory (<30) near 1.42–1.44, suggesting a possible bounce, but not a strong reversal unless volume increases on the rebound.

Bollinger Bands

Bollinger Bands expanded significantly during the decline, indicating rising volatility. The price traded near the lower band during the 1.42–1.45 range, suggesting a potential overreaction to bearish news or selling pressure.

Volume & Turnover

Volume spiked during the 1.513–1.442 decline, with the largest 15-minute volume recorded at 978,618.8 during the 14:00–14:15 ET hour. Notional turnover also increased during the drop, confirming the bearish momentum.

Fibonacci Retracements

Key Fibonacci levels for the recent 15-minute swing (1.42–1.486) are at 1.456 (61.8%) and 1.446 (50%), which may act as potential support or resistance in the next 24 hours. On the daily chart, the 61.8% retracement of the larger move lies around 1.49–1.51, which could become a critical level if the price rebounds.

EigenLayer (EIGENUSDT) appears to be consolidating near 1.473–1.48, with a potential bounce possible from the oversold RSI and key support levels. However, the bearish momentum and volume patterns suggest that any near-term recovery may be limited. Investors should monitor 1.456 and 1.48 for confirmation of a potential reversal or continuation of the decline. As always, be cautious of sudden volatility or news events that could shift sentiment.