The ongoing bull run in EigenLayer (EIGEN) has been fueled by a channel breakout, with the price currently at $3.7945 and experiencing a 1.43% pullback. However, a surge last night resulted in a 14.07% bullish engulfing candle, reaching a high of $4.1419 in the past 24 hours. The price action on the 4-hour chart shows a breakout rally gaining momentum, with a sudden reversal from $2.14 followed by a 5.18% surge on November 21. The trend momentum has continued to challenge the long-standing resistance trendline, and a breakout of the falling channel pattern occurred with a 5.61% surge on November 24. The price is currently consolidating just above the $3.60 support level, with overhead supply coming from a supply zone between $4.07 and $4.14. For the bullish trend to continue, the breakout rally must sustain a closing above $4.15 on the 4-hour chart. The 4-hour RSI has entered the overbought zone, indicating a potential minor pullback or consolidation. Fibonacci levels suggest that the breakout rally could target the next price levels at $4.96 and $6.23, which could be reached in December. Key support levels stand at $3.60 and $3.40.



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