Enjin Coin (ENJUSD) Buyers Attempt to Turn the Tide
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ENJUSD Analysis – A Battle for Strength in the Market
ENJUSD buyers attempt to turn the tide. The buyers have been making efforts to regain control after a significant price drop, while the sellers have been holding their ground.
ENJUSD Key Levels
Resistance Levels: $0.5800, $0.5510
Support Levels: $0.2540, $0.2040
A week ago, the sellers managed to break through the $0.5000 significant level, pushing the price down to the $0.4110 level. This sudden price drop left the buyers in a state of uncertainty, as they sought ways to recover their strength. However, their attempts to break through the $0.5000 price level were met with resistance, leading to a stagnant market.
Before the sellers’ breakthrough, the ENJUSD price experienced a significant drop after encountering resistance at the $0.6850 key level. This drop took the price far below the $0.5500 market level, causing panic among traders. As the month progressed, the price started accumulating above the $0.4850 key zone, giving hope to the buyers. However, this hope was short-lived as the price eventually broke lower, with the sellers managing to sell more down to the $0.4110 significant zone.
Despite the sellers’ dominance, the bulls are now making a comeback. The buyers are determined to regain control of the market and are showing signs of increased strength. The momentum indicator is on the rise, indicating a potential shift in market sentiment. However, traders remain cautious and uncertain about the extent of the buyers’ strength this time.
Market Expectation
At this current stage, the ENJUSD market is witnessing a fierce struggle for strength between buyers and sellers. The buyers are making efforts to push the price higher, while the sellers are holding their ground. The market remains uncertain, with both sides vying for control.
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