EigenCloud (EIGEN) is currently trading at $0.607779, reflecting a 4.58% decline over the past 24 hours. The daily price range has been relatively tight, with a high of $0.643114 and a low of $0.606549, indicating limited volatility in the short term.

Volume has been robust at 35,516,648, which represents 13.16% of the market cap, suggesting that there is active trading interest despite the price drop. The hourly moving averages show bearish momentum with the 8 SMA at $0.6126 down 0.79%, while the longer-term 144 SMA is indicating a slight bullish trend at $0.5957, up 2.03%.

The 1-hour RSI is at 32, indicating that EIGEN is approaching oversold territory, which may suggest a potential short-term rebound. In contrast, the 7-day RSI at 54 shows a more neutral position, with the 7-day price change reflecting an 8.74% increase, suggesting that EIGEN had a brief recovery before this recent downturn.

Over the past 14 days, EIGEN has decreased by 12.85%, and the 30-day change reveals a significant decline of 42.34%, indicating a longer-term bearish trend. The all-time high of $5.65 reached in December 2024 remains far from the current price, which highlights the magnitude of the downtrend since that peak.

In summary, EIGEN is currently experiencing a short-term bearish phase, but the oversold conditions indicated by the 1-hour RSI suggest a possible short-term bounce. Given the broader bearish trend and significant declines over the last month, the recommendation is to Hold EIGEN for now, monitoring for signs of stabilization and potential recovery before considering any buying opportunities.