EigenCloud (EIGEN) is currently trading at $0.51288, reflecting a significant decline of 13.60% over the past 24 hours. The price is hovering near its daily low of $0.512494, indicating bearish momentum, especially given the high volatility with a daily range of 0.089197%.

The trading volume stands at approximately $44.9 million, contributing to a volume-to-market cap ratio of 18.06%, suggesting active trading participation despite the price drop. The moving averages reveal a consistent downtrend, with the 8 SMA at $0.5357 and the 55 SMA at $0.5887, all indicating negative price momentum.

Technical indicators show an alarming 1-hour RSI at 0, suggesting extreme overselling in the short term. The 7-day RSI is at 44, nearing the neutral threshold but still indicative of bearish sentiment, while the 14-day and 30-day price changes of -24.25% and -44.25%, respectively, reinforce this negative trend.

EigenCloud's all-time high of $5.65, reached in December 2024, remains a distant target, highlighting the significant market correction since then. The current price reflects a drastic pullback from previous highs, warranting caution for potential investors.

Given the persistent downtrend across multiple timeframes and lack of immediate bullish signals, the recommendation is to Hold. Investors should wait for signs of stabilization or a reversal in momentum before considering new positions.