EIGEN price has broken out of a multi-month trading range, reaching levels not seen since February, driven by news of a major partnership with Google Cloud’s AP2.
Summary
- EIGEN cleared $1.60–$1.65 and $1.75–$1.80 key resistance levels, hitting levels not seen since February.
- Strong support at $1.65 could offer a pullback entry.
- EIGEN price surge was likely fueled by partnership with Google Cloud’s Agent Payments Protocol (AP2).
EigenCloud (EIGEN) price has recently broken through a double-resistance stack, first surging past the key $1.60–$1.65 zone, and shortly after, blasting through the more critical $1.75–$1.80 level. The breakout marks a major shift in market structure, as EIGEN price has broken out of the wide $1.00-$1.80 range it had been trapped in since May, now trading at levels not seen since late February.
However, the price now appears overextended in the short term as the RSI has entered overbought territory at ~71. While the recently breached $1.75–$1.80 zone may offer immediate support, a more robust and compelling support lies slightly lower around $1.65-$1.70, where a confluence of the 382 Fib, 7-day SMA, and horizontal support increases the likelihood of a sustained bounce on pullback. If price action holds here, it could present an attractive entry point for a potential uptrend.
Why is EIGEN price surging?
The recent surge in EIGEN price is likely fueled by the announcement that EigenCloud will be a launch partner for Google Cloud’s new Agent Payments Protocol (AP2). This protocol establishes a standardized framework for AI agents to transact with trust and accountability.
According to the project’s founder, Sreeram Kannan, AP2 will help create a “global verifiable economy” where agents can coordinate, transact, and prove their actions to humans and to each other. EigenCloud ensures that all participants remain accountable, which could accelerate the practical use of agentic commerce and bolster confidence in the network.
