Institutional demand for EigenCloud [EIGEN] rose 14% to $25.3 million over the past 24 hours, indicating stronger participation from larger investors.
The increase was accompanied by the increasing accumulation of whales, indicating that both institutional and high net worth investors became more active at current price levels.
Big farmer activity is often watched during potential trend reversals because whales have historically gathered before broader market sentiment changed. OWN now appears to be exhibiting similar behavior.
Does institutional buying lead to a reduction in OWN?
Price is already starting to respond.
On the daily chart, EIGEN gained over 10%, making it one of the best performing assets on the market. This rally coincided with stronger on-chain activity, indicating that rising demand may be playing a role in the price action.
At the time of writing, EIGEN was trading above its major Exponential Moving Averages (EMAs).
Meanwhile, the Stochastic RSI recovered from oversold territory and highlighted $0.212 as a key demand zone. The move left buyers focused on whether the momentum could continue.
Where could OWN gather next?
Attention has now shifted to the next major resistance.
According to liquidation data, a large liquidity cluster was around $0.316, where more than $300,000 of leveraged positions were concentrated.
Such zones often attract prices as market participants focus on areas of concentrated liquidity.
If the buying momentum continues, EIGEN could next test the $0.316 resistance level.
A move into that region could increase volatility as leveraged positions begin to decline.
Yet institutional demand, whale accumulation, and improving technical indicators do not in themselves confirm an outbreak. EIGEN still needs to recover $0.316 before a stronger bullish trend gains confirmation.
Final summary
- Institutional demand increased by 14%, coinciding with increased whale accumulation.
- EIGEN gained more than 10% as buying activity turned to price action.