ETHFI: MichNL Swaps EIGEN for ETHFI Stake
CryptoMichNL replaced his full EIGEN allocation with ETHFI in his altcoin portfolio, limiting losses to 10% versus EIGEN's 21% decline since the switch.
SourceAnalysis
CryptoMichNL swapped his entire $EIGEN position into $ETHFI, shielding the portfolio from deeper losses as EIGEN fell 21% while ETHFI corrected just 10%.
The trader noted ETHFI sits in a mild downtrend after hitting support and flagged potential entries below $0.48 if broader markets keep sliding.
On the 4h chart ETHFI trades at $0.5 inside a bearish structure where the EMA50 at $0.6 and EMA200 at $0.63 cap upside. RSI at 22.85 marks oversold territory while the MACD death cross at -0.02 keeps momentum negative. Price now tests the lower Bollinger band near $0.51, creating confluence that favors a relief bounce before any deeper probe toward the $0.48 zone highlighted by the trader.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast