EIGEN has experienced significant pressure over the past 24 hours, with spot prices dropping more than 5%. What are the underlying reasons?

From a technical perspective, EIGEN's trend is indeed not optimistic. The price has continuously broken below key exponential moving averages (EMA 7, 25, 99), and the middle line of the Bollinger Bands has also been breached, indicating that bearish momentum is quite strong. The MACD indicator has given a clear sell signal — the MACD line is already below the signal line, and the negative histogram further reinforces the downward pace. Meanwhile, there has been a net outflow of over 1.1 million USDT within 24 hours, with multiple large-scale withdrawals resonating with the price decline.

However, an interesting phenomenon has emerged: EIGEN's Relative Strength Index (RSI) has entered the oversold zone, with RSI6 reaching 19.34 and RSI12 at 24.98. Historically, extreme oversold conditions often signal a potential rebound, and many technical traders are now paying attention to this opportunity.

In the long term, market sentiment towards EIGEN remains unchanged. The community generally considers EIGEN a key player in the Ethereum ecosystem, particularly in re-staking and AI computing fields, with ongoing innovative value in staking mechanisms and AI computation. Although recent prices have been under pressure, many observers still see it as a "sleeping giant" — the "billion-dollar computing vision" and continuous smart capital attention suggest that this project may have greater growth potential.

The gap between short-term difficulties and long-term potential is precisely what makes EIGEN most worth watching right now.