EIGEN Price Stabilizes Amid Falling Wedge Pattern

The price of EIGEN (EIGEN) is showing signs of recovery after a long decline. According to Bitcoin Meraklısı, an analyst on Twitter, the cryptocurrency is currently trading inside a falling wedge pattern, which often precedes a bullish reversal.

A breakout above the wedge could drive EIGEN's price towards resistance levels at $0.343, $0.446, and eventually $0.660. However, the bulls need to protect the support regions at $0.22 and $0.15 for a continued uptrend.

The Relative Strength Index (RSI) is currently at 48.75, with its signal line at 52.04, indicating neutral momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, suggesting slowing upside momentum.