EigenLayer Forms Rounding Bottom with Bullish Potential

EigenLayer (EIGEN), a dominant restaking protocol on Ethereum, has formed a rounding bottom pattern after an ~88% drawdown from above $2.00.

The pattern, which spans approximately February to October 2026, is supported by strong fundamental underpinnings: a fully diluted valuation of $440 million against a total value locked of $7.2 billion.

This results in a TVL/FDV ratio of 16.4x, making it one of the highest among DeFi protocols on Ethereum.

On-chain analyst @CryptoBullet1 has flagged this confluence, projecting a move toward the $1.50, $2.00+ zone contingent on a confirmed daily close above $0.26 resistance.