The EIGENUSDT daily chart suggests that the previous ranging zone formed a symmetrical pattern. Price has now broken out sharply, which may mark the start of wave A in a new upward sequence.
This breakout indicates renewed bullish momentum, but as with any post-breakout scenario, a corrective pullback is likely before the trend fully develops.
Retracement & Wave B Potential 🔜
After the initial surge, a pullback is expected, representing wave B. This retracement could offer a secondary entry point for traders looking to capitalize on the next leg upward. Monitoring price action around key support and resistance levels will be critical to identify the optimal re-entry zones.
Highlighted Technical Zones 📌
All highlighted zones on the chart represent significant technical areas where price tends to react. These include support, resistance, and pivot points that can provide high-probability trading setups if approached carefully.
Traders should watch these zones for volume spikes, rejection patterns, or confirmation candlesticks before placing orders.
