Enjin Coin (ENJUSD) Sellers Fail to Slide Through the Significant Level of $0.427000
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ENJUSD Analysis : Buyers Pick Up Strength Below $0.427000 Significant Level
ENJUSD sellers fail to slide through the significant level of $0.427000. It is certainly surprising that the ENJUSD sellers have been unable to slide through the significant $0.427000 level. This is a testament to the resilience of the market and the strength of the buyers. Despite several promising signs of a bearish fallout, the sellers have been unable to penetrate beyond the $0.427000 key level following the price reversal from the $0.514000 significant level. The bulls are currently gaining attention, although this is likely to be a short-lived phenomenon.
ENJUSD Key Zones
Resistance Zones: $0.514000, $0.427000
Support Zones: $0.312000, $0.236000
This implies that the sellers could recapture the price trend and cause a fallback in the crypto market. The year 2023 has certainly gotten off to a strong start for the cryptocurrency market, with a significant bullish surge in prices. The bullish trend has been sustained by investors who have been placing more orders, leading to an overall bullish order flow on the ENJUSD.
Despite the buying power, the $0.514000 key zone has been a major obstacle, leading to a sell-off. The MACD (Moving Average Convergence and Divergence) indicator suggests that sellers may have the upper hand shortly. Nevertheless, it is motivating to see that the buyers are actively seeking out more movement in the market and that the sellers have been unable to break through the $0.427000 level. However, much expectation is still placed on them.
Market Expectation
On the 4-hour timeframe, the bulls are currently launching their attack to draw back the price. However, traders should watch out for the aftermath of the pullback as sellers could penetrate any moment from now down to the $0.427000 key zone.
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