EigenLayer Price Prediction: EIGEN Becomes A Top 100 Crypto After 8% Surge As This PEPE 2.0 ICO Closes On $17 Million
Release: 2024/10/02 15:44 Reading: 738
EigenLayer Price Surges, Breaking Into Top 100 Cryptocurrencies
Over the past 24 hours, the EigenLayer price has soared by 8%, reaching $4.04 as of 11:34 p.m. EST, fueled by increased investor interest. This surge has propelled EigenLayer into the top 100 list of cryptocurrencies by market cap.
With a market cap of $753.6 million, EigenLayer currently ranks 84th, as per CoinMarketCap.
EigenLayer Price Poised for Potential Breakout
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A technical analysis of the EIGEN price indicates that it is currently consolidating within a range between $3.655 and $4.195. Traders should note the symmetrical triangle pattern that has emerged on the hourly chart. This pattern suggests that a significant price movement may be on the horizon, but it does not indicate the direction.
If the EigenLayer price breaks out upward, it is likely to encounter resistance at $4.195. Surpassing this level could lead to further gains towards $4.587 and potentially even $4.978, provided the bullish momentum continues.
Alternatively, a breakdown below $3.655 could result in a drop out of the consolidation zone and a potential price discovery phase on the downside.
Technical Indicators Point to Bullish Sentiment
Technical indicators on EIGEN's 1-hour chart suggest that bulls currently have a slight advantage. The Relative Strength Index (RSI) and the 9 Exponential Moving Average (EMA) both indicate positive signs.
The price is trading above the 9 EMA, which is often interpreted as an indication of bullishness. Additionally, the RSI is above the 50-level, suggesting that buyers may have a slight edge over sellers. However, the RSI's negative slope cautions that this situation may not persist.
Overall, the combination of the 9 EMA support, the symmetrical triangle pattern, and the RSI reading above 50 hints at the possibility of a bullish scenario unfolding in the near term.
Pepe Unchained Presale Gains Traction
As traders await confirmation of the direction of EIGEN's breakout, investors continue to flock to the presale for the layer-2 meme coin Pepe Unchained (PEPU).
Pepe Unchained aims to bring much-needed scalability to the booming meme coin space by offering a dedicated network for meme coins. The project focuses on easing the transaction processing burden on public blockchains such as Ethereum and Solana, which have faced outages due to the surge in meme coin hype.
To purchase PEPU, investors can use the widget on the project's website. The token is priced at $0.0099 and can be bought using ETH, USDT, BNB, or bank card.
Disclaimer: Please note that this article contains promotional content and should not be considered investment advice.
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