Eigenlayer (EIGEN) is currently trading at $1.16, experiencing a 24-hour decline of 4.18%. The price has remained stable within a tight daily range, with a high of $1.24 and a low of $1.16, indicating limited volatility in the short term.

Trading volume stands at approximately 39.2 million, contributing to a volume-to-market cap ratio of 13.79%. This level of trading activity suggests moderate interest but is not indicative of strong upward momentum, particularly given the current price action.

Analyzing the moving averages, the 8-period SMA is at $1.17, showing a decline of 1.25%, while the 55-period SMA at $1.18 reflects a slightly more significant decrease of 1.94%. The downward trend in the moving averages points to a bearish sentiment, especially as the price is trading below these key indicators.

The 1-hour Relative Strength Index (RSI) is at 33, signaling that EIGEN is nearing oversold conditions, while the 7-day RSI at 51 indicates a neutral stance overall. Despite the recent price drop, the 7-day price change is positive at approximately 3.93%, suggesting some resilience in the medium term, although the 14-day and 30-day changes reflect a negative trend.

Eigenlayer's all-time high of $5.65 from December 2024 remains a distant target, highlighting the substantial distance the asset has to cover to regain previous highs. The significant 30-day price decline of over 40% further underscores the current bearish pressure and the need for a solid recovery plan.

Given the technical indicators and recent price action, the recommendation is to Hold EIGEN. The asset shows potential for short-term recovery due to oversold conditions, but the overall trend remains bearish, warranting caution before any aggressive positions are taken.