Enjin Coin (ENJUSD) Buyers Are Gradually Regaining Supply
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ENJUSD Analysis – Buyers Are Gaining Stance
Enjin Coin (ENJUSD) buyers are gradually regaining supply. The crypto price is witnessing a gradual resurgence in buyer activity after a period of decline. Traders are cautiously observing the market, awaiting a decisive moment before committing to decisions.
The current effort by buyers to counteract the prevailing selling trend may not be sufficient to overcome the established selling stronghold. The bears gained momentum, particularly after the failure to breach the significant level at $0.333200.
Enjin Coin Key Levels
Resistance Levels: $0.333200, $0.2879000
Support Levels: $0.2467000, $0.2040000
While the bulls displayed resilience in October, recovering from the $0.204000 level, this month tells a different story. The buyers are yet to mount a substantial challenge. However, reaching the $0.2887900 price zone could signal a potential resurgence of bullish momentum. Today’s gains suggest a resurgence of buyer interest, but the market’s direction remains uncertain. Bullish momentum has waned, and yet another bullish trend might be on the horizon.
Traders could find opportunities in this current scenario, considering the ongoing battle between buyers and bears. The Moving Average Crossing of days 9 and 21 signals a sell stance. It emphasizes the need for a robust hold to counter the prevailing selling sentiment.
Market Expectation
On the 4-hour chart, there’s a consistent buying interest, although the sustainability of this liquidity remains unclear.
Buyers need to maintain their momentum to prevent a potential return of sell traders to the market.
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