$EIGEN There is no bottom below Rebound = exit opportunity

I. Overall Trend Judgment (Core)

EIGEN's trend is extremely poor

High opening and low closing: The price peaked near $5.50 at the beginning and then entered a unilateral downward channel, almost giving the bulls no breathing space.

Breakout acceleration: The price has pierced through multiple key supports like $3.00, $1.50, and $1.00. Recently, it even broke below the last psychological defense line of $0.50, having dropped more than 90% from its peak, in an absolute bearish trend of "deep bottomless".

EIGEN's mid-term trend is extremely weak. Market confidence has completely collapsed, and the upper part is all trapped positions; currently, it is in the price discovery process (looking downward for valuation bottom), and any rebound should be seen as an exit opportunity.

II. Key Levels

Resistance Level (Selling Pressure Zone):

Short Pressure: $0.60 - $0.70. A weak consolidation platform during the recent decline. If it rebounds here, short-term trapped funds will be eager to cut losses.

Strong Pressure: $1.00. Once an integer level and the bottom of a fluctuation box. After breaking below, it has become an extremely heavy "ceiling". Only if it stands back here can we say the downward trend has stopped.

Support Level (Defense Zone):

Psychological Support: $0.40. There are no historical K-lines below to refer to, and one can only rely on the recent downward inertia and integer levels for speculation.

Extreme Bottom: $0.30. If panic continues, bears may further test lower integer levels.

III. Volume Signal

Signal: Shrinking volume with a downward trend.

The chart shows that as the price continues to hit new lows, trading volume has not increased but rather has slightly shrunk.

Interpretation: Liquidity exhaustion. Buying willingness is extremely low, and selling has gradually become numb, with the market in a state of abandonment.

IV. Trading Strategy

For Holders: Extremely painful. At this point, cutting losses only leaves scraps. It is recommended not to average down (absolutely do not think it is cheap), and wait for a possible oversold rebound in the future. If it can rebound to around $0.60, be sure to reduce positions.

For Those with No Positions: Absolutely do not touch!

This is a typical "catching falling knives" market.

Avoid bottom fishing: There is no bottom below.

The only opportunity: Unless a huge bullish candlestick appears on the daily level, engulfing the previous bearish candlestick and stabilizing above $0.60, otherwise, observe more and act less.

V. Summary

EIGEN is undergoing "asset revaluation", having lost the $0.50 level, the area below is a blind spot.