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Enjin Coin (ENJUSD) Sideways Motion Continues

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Enjin Coin (ENJUSD) Sideways Motion Continues

Market Analysis – Traders Await Momentum

Enjin coin sideways motion continues as market traders await momentum. The price of the ENJUSD has been reluctant to make significant movements for weeks, lacking the momentum needed for a substantial slide or surge. Traders have been waiting for the market to regain a solid rhythm, but so far, the coin has been struggling to find a clear direction. 

Enjin Coin started the year with a dip in price, as sellers easily breached the key level of $0.340200. The sell pressure intensified, pushing the price down to a significant level of $0.251500. However, buyers recognized the need for a reversal and attempted to regain control. Despite their efforts, the bulls have not yet gained enough momentum to fully recover. As a result, the Enjin market has been rolling in accumulation for several days, extending into the new month.

ENJUSD Key Levels

Resistance Levels: $0.428000, $0.340200
Support Levels: $0.251500, $0.202500

Enjin Coin Sideways Motion Continues

The Money Flow Index (MFI) on the daily chart for Enjin Coin indicates a bearish sentiment, as it runs deep below the 40.00 level. This suggests that buyers are currently exerting minimal pressure on the market, leading to consolidation. Additionally, the Moving Average crossing has not yet formed a golden cross, indicating a lack of a clear trend for ENJUSD

To navigate the current market conditions and identify potential entry and exit points, traders can benefit from utilizing the best forex signals. These signals provide valuable insights and analysis from experts in the field, helping traders make informed decisions. By leveraging the power of forex signals, traders can identify potential places to place orders in the market. This will increase their chances of success.

Enjin Coin Sideways Motion Continues

Market Expectation 

In shorter time frames, the Enjin Coin market continues to move at a slow pace. The struggle between buyers and sellers persists, with sellers attempting to take further control. Traders should remain cautious and closely monitor the market for any signs of a breakout or reversal.

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