Enjin Coin (ENJUSD) Bearish Pressure Intensifies

Market Analysis: Bearish Pressure Continues to Streak

ENJUSD bearish pressure intensifies, putting buyers behind. The Enjin Coin has seen a bearish turn in the market, with the sellers refusing to back down even after breaking through the $0.139000 key level. The crypto market has finally escaped the recent ranging market, with the sellers managing to intensify the bearish pressure.

ENJUSD Key Levels

Resistance Levels: $0.40000 $0.32800 
Support Levels: $0.26800 $0.13900

Before the recent bearish spike, the Enjin Coin price had also been losing its value. The bearish trend was observed as early as June, with the bears turning the market around from the $0.40000 area. The market’s dive since then has only gotten stronger over the months.
 
The buyers attempted to fight back, but they were pushed out again at the $0.20500 significant level. The daily chart now shows the bears taking control of the Enjin price, with the Stochastic Oscillator still open to influence more sell positions. 
 
Although pullbacks should also be anticipated, the Parabolic SAR Stop and Reverse indicator reflect a bearish tendency in the market. The sellers at this time are likely to continue keeping the glow in the market. 

Market Expectation 

In the short-term timeframe, the sellers continue to assume control, and it’s likely to see more bearish streaks come into play. The Parabolic SAR indicator remains in buy opposition, suggesting that bearish pressure may persist in the near term. The short outlook therefore suggests more selling intensity in days to come. 

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