Technical Support

Action: The price has broken below the key $0.35 support level, indicating that sellers are currently in control.
Target: With the break of $0.35, the next logical, technical support zone is at $0.30.
Trend: The trend is strongly bearish across all timeframes (Short, Medium, and Long Term).
Momentum: The Moving Average Convergence Divergence (MACD) line remains below the signal line, confirming continued downward momentum. However, rising histogram bars indicate the bearish momentum might be slowing down, suggesting a potential (but not confirmed) pause or minor relief rally before further downside.
Relative Strength Index (RSI): The RSI (14) is in a neutral zone (neither below 30 nor above 70), meaning the asset is not oversold, which allows room for a further move to the $0.30 target.
Resistance: Should the price attempt a pullback, the first major resistance is at $0.40, followed by $0.50.
Trade Management
Bearish Case: The break of $0.35 often acts as a "role reversal" where old support becomes new resistance, increasing the probability of a drop to $0.30.
Risk Management: Setting a price alert at $0.35 (to confirm a retest) or $0.30 (target) is advisable. #CryptoMarketWatch #EIGEN #LayerEigenMoodengGrok