EIGEN is trading at $1.86, down 1.59% over the past 24 hours, but technical indicators point to continued upside as the market readies for a major token event. EigenLayer’s RSI sits at 66.62 — neutral but leaning bullish — while MACD readings (with the MACD line around 0.1352) reinforce momentum across multiple timeframes. The token’s price surged 35.39% earlier this week, making EIGEN the top gainer among the top 200 cryptocurrencies and drawing attention from traders watching DeFi and altcoin flows.

Market optimism is centered on a scheduled token transferability unlock set for September 30. EigenLayer announced the lift of transfer restrictions on September 7, but many holders remain unable to trade or transfer their EIGEN until the unlock. That temporarily reduced circulating supply has created an artificial scarcity effect, amplifying price action as liquidity expectations build. Traders and liquidity providers anticipate increased on-chain activity and tighter price discovery once wallets regain transfer rights.

Reduced circulating supply ahead of the unlock has amplified price action by creating an artificial scarcity effect that traders are pricing in.

Technical analysis presents a bullish thesis: RSI at 66.62 leaves room before overbought territory, and the MACD stance supports continued momentum. These signals are echoed across short- and medium-term charts, suggesting buyers are in control heading into the unlock. However, token unlocks can also trigger selling pressure as previously restricted holders realize gains, so volatility around September 30 could be elevated.

EIGEN’s rally is part of a wider interest in DeFi primitives tied to Ethereum and broader blockchain staking innovations. Developments like token unlocks often ripple through altcoin markets, affecting liquidity, staking dynamics, and trader positioning in Bitcoin, Ethereum and DeFi pairs.

• Watch on-chain transfer volumes for early signs of renewed activity
• Monitor post-unlock order flow to confirm sustained buying or onset of profit-taking
• Be prepared for elevated volatility as previously restricted holders regain transfer rights

Bottom line: momentum is bullish for EigenLayer as market participants price in restored liquidity and renewed trading activity. Traders should watch on-chain transfer volumes and post-unlock order flow for confirmation, while remaining mindful that profit-taking could counter near-term gains.