The leading restaking protocol Eigenlayer is online, how is the market performing?

2024-10-09, 07:34

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![](https://gimg2.gateimg.com/image/article/1728459982screenshot-20241009-154609.png)
According to Gate.io market data, EIGEN is currently priced at $3.95, with a 24-hour increase of 14%. The current trend for EIGEN is bullish, and the market sentiment index is neutral. In terms of technical indicators, MACD has formed a golden cross, while KDJ and EMA BREAK show no clear trading signals. The RSI is in the overbought territory, and the BOLL indicator has touched the upper band.
## Trading Strategies
### Trend Following  
Direction: LONG  
Entry Price: $4.115  
Strategy Features: Given the current bullish trend, consider following the trend for trading. With major holders favoring long positions and neutral market sentiment, further upward movement is expected. The entry price is set above the current one-hour closing price to confirm trend continuation.
### Reversal Trade  
Direction: SHORT  
Entry Price: $3.5520  
Strategy Features: Considering the RSI is overbought and the BOLL indicator has touched the upper band, there are some reversal signals. You might enter short below the current support price, anticipating a price pullback.
### Funds Flow  
Direction: LONG  
Entry Price: Adjust in real-time based on fund <a href="/price/flow-flow" target="_blank" class="blog_inner_link">flow</a>  
Strategy Features: With a significant inflow of funds exceeding outflows in the past 24 hours, consider trading in the direction of fund flow. As capital inflow increases, it may drive prices up, allowing for long trades in line with the fund flow direction.
## About EigenLayer  
EigenLayer is a re-staking protocol based on <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a>. It allows stakers to use their staked ETH to collateralize other decentralized services and projects. This means Layer 2 projects using EigenLayer won't need to spend funds to recruit new validators; instead, they can leverage the collateral provided by EigenLayer. By using EigenLayer, stakeholders don't need to invest additional funds, enhancing the security infrastructure of the entire Ethereum network. This enables dApps to use their staked tokens without having to stake new assets, reducing fragmentation and creating a more unified and secure ecosystem. Thus, EigenLayer successfully proposes a method to protect and unify the ecosystem.
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<div>Author: **Icing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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