Enjin Coin (ENJUSD) Price Is Still Defensively Above the $0.295400 Market Level
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Enjin Coin (ENJUSD) Analysis – The Crypto Price Remains on the Sideline
Enjin Coin (ENJUSD) price is still defensively above the $0.295400 market level at the moment. This means that the price is not attractive enough for both buying and selling opportunities. The price has been on the sidelines for some time now and has not been able to make any significant progress. This has prevented the buyers from making any solid runs. On the other hand, the sellers have been able to hold the price momentum lower.
Enjin Coin (ENJUSD) Key Zones
Resistance Zones: $0.54600, $0.47400
Support Zones: $0.35200, $0.245900
Currently, the price is accumulating inside the Bollinger Band indicator, which is a technical indicator used to measure market volatility. Despite this, the bulls are still making more attempts to push the price forward. Starting from the $0.245900 market level, buyers have been gradually entering the market, hoping to change the price direction. The buyers have already crossed the $0.295400 key area, but they have not been able to push with a stronger force.
As a result, traders are now looking out for a breakout in the price. If the buyers can gain enough momentum, they may be able to make a solid run and break above the $0.295400 market zone. On the other hand, if the sellers manage to hold their position, the price could remain stagnant or even decline further. Therefore, traders should watch closely to observe the possible playout in the market. The bulls may not be getting the attention they deserve; however, the market is still in their favor.
Market Expectation
The market is still in the accumulation stage in the 4-hour time frame. Traders are therefore anticipating a possible breakout in the market. If the breakout successfully occurs, it could imply a chance for more buying opportunities in the market.
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