EigenCloud (EIGEN) is currently priced at $0.713718, reflecting a significant decline of 8.58% over the past 24 hours. The daily trading range has been relatively tight, with a low of $0.695034 and a high of $0.782732, indicating a volatility of 12.58% within the day.

Trading volume stands at approximately $79.76 million, which constitutes 25.51% of the market cap, suggesting a healthy level of trading activity despite the price drop. However, with the current hourly RSI at 36, EIGEN is nearing oversold territory, which could indicate potential for a short-term reversal if buying pressure increases.

Technical indicators show that short-term moving averages (8 SMA at $0.7255 and 13 SMA at $0.7194) are below the current price, while longer-term averages indicate a bearish trend, with the 55 SMA at $0.7561 and the 144 SMA at $0.7932 confirming ongoing downward pressure. The 7-day RSI at 46 supports this bearish outlook, as it approaches the neutral zone, while the 14-day price change indicates a steep decline of 22.98%.

Looking at the broader trend, EIGEN has decreased by 46.76% over the past 30 days, which is concerning for investors seeking stability. The all-time high of $5.65, achieved on December 17, 2024, highlights the extent of the current price drop and underscores the challenges in regaining previous momentum.

In summary, while short-term indicators suggest potential for a rebound given the oversold conditions, the overarching trend remains negative with significant losses over the past month. Therefore, the recommendation is to **Hold** EIGEN, as the market may offer a better entry point once the downward pressure stabilizes and further bullish indicators emerge.