ENJUSD Bulls Slow Down as Sellers Make an Appearance
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ENJUSD Analysis – Sellers Now Call the Shot
ENJUSD bulls slow down as sellers make an appearance. Over the past few weeks, we have witnessed an interesting battle between the bulls and the bears in the Enjin Coin market.
ENJUSD Key Levels
Resistance Levels: $0.3651000, $0.433700
Support Levels: $0.3177000, $0.253900
The month started on a positive note for ENJUSD, with the price appreciating against the US Dollar. However, the bullish momentum was short-lived as sellers made their appearance in the market. This sudden influx of sellers caused a strike on the upward movement of the price. Traders and investors were left wondering whether this was just a temporary setback or a sign of a larger trend reversal.
To understand the current state of the market, let’s take a closer look at the price action over the past few months. At the beginning of the year, the crypto price experienced a drop. The sellers were seen to be exerting intense liquidity and pushing the price down to $0.253900 in January. However, the buyers fought back and managed to push the price higher in the following weeks.
In February, the buyers made an aggressive move, driving the price up to the significant zone of $0.3651000. It seemed like the bulls were in control and ready to take ENJUSD to new heights. However, the market took a U-turn, and the price is currently diving towards the $0.3177100 level. Despite this downward movement, traders can still find opportunities by utilizing the best crypto signals available.
Market Expectation
The Parabolic SAR (Stop and Reverse) has recently taken a new course. The crypto price is now trading south, indicating a bearish trend. This aligns with the current downward movement we are witnessing in the ENJUSD market.
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