Institutional demand for EigenCloud (EIGEN) has increased 14% to $25.3 million in the last 24 hours, signaling stronger participation from larger investors.
The increase came with increasing whale accumulation; This suggests that both institutional and high net worth investors are becoming more active at current price levels.
Because whales have historically accumulated before broader market sentiment shifts, the activities of large shareholders are often tracked during potential trend reversals. EIGEN now appears to show similar behavior.
Corporate buyout lifts EIGEN?
Price has already begun to respond.
On the daily chart, EIGEN gained more than 10%, making it one of the market’s strongest performing assets. This rally coincided with stronger on-chain activity, indicating that increased demand may be fueling price action.
As of the date of writing this article, TO HAVE It traded above its key Exponential Moving Averages (EMA).
Meanwhile, the Stochastic RSI has recovered from the oversold zone, highlighting $0.212 as an important demand zone. This move has buyers focusing on whether the momentum can continue.
Where can EIGEN recover next?
Attention now turns to the next major resistance.
According to liquidation data, a large cluster of liquidity centered around $0.316, with a concentration of leveraged positions of more than $300,000.
Such zones often attract prices because market participants target areas with intense liquidity.
If the buying momentum continues, EIGEN could next test the $0.316 resistance level.
A move into this area could increase volatility as leveraged positions begin to unwind.
Yet institutional demand, whale accumulation and improving technical indicators alone do not confirm a boom. EIGEN still needs to reclaim $0.316 for a stronger uptrend to be confirmed.
Final Summary
- Institutional demand increased by 14%, coinciding with increased whale accumulation.
- EIGEN gained over 10% as buying activity spread into price action.
