CandleFocus EigenLayer (EIGEN) Approaches New All-Time Highs With a 23% Surge
2024-10-09
Author: Content Editor
EigenLayer (EIGEN) has experienced a significant increase in price after a bearish week. The altcoin, which faced controversy at its launch, is now seeing renewed interest. The rally has excited traders and investors, who are curious to see if EIGEN can sustain its gains. The recent price rise could potentially boost network participation, reversing the decline in activity. However, there is risk associated with the upcoming token unlock, as it may lead to a sharp sell-off. EIGEN is currently trading at $3.92 and is approaching a resistance level at $4.15. If this level is breached, further gains are possible, with potential for a new all-time high at $4.94. However, if investors choose to sell before the resistance level is breached, the price may decline and invalidate the bullish outlook.
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