$EIGEN / USDT – Liquidated Longs Raise Downside Concerns

EIGEN experienced a $2.9207K long liquidation at $0.19471. The event suggests that bullish traders faced pressure, potentially allowing sellers to control the immediate momentum. However, liquidation activity alone does not establish whether the broader trend is bearish.

Potential Trade Setup

- Entry zone: $0.1940–$0.1948 after a confirmed rejection

- Downside targets: $0.1925 / $0.1905 / $0.1885

- Upside recovery levels: $0.1960 / $0.1980

- Protective stop-loss: Above $0.1961 for a short setup

- Short-term bias: Neutral to bearish below $0.1950

Market outlook: A move below $0.1940 may extend selling pressure. Conversely, a recovery above $0.1960 could indicate that buyers are returning. Confirm the direction with current volume and price structure.

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