Enjin Coin Sellers Hold Strong Against Bullish Momentum

ENJUSD Analysis – Buyers Struggle to Gain Control

Enjin sellers hold strong against bullish momentum. The sellers have positioned themselves firmly against the bullish run. The buyers have lost their strength to push the market further. However, they are facing instant rejection due to significant price opposition at the $0.374000 level. The sellers have seized this opportunity to regain momentum and fight back.

Enjin Coin Key Levels

Resistance Levels: $0.464000, $0.374000 
Support Levels: $0.270000, $0.203600

 
Despite this setback, the buyers have made significant gains in the Enjin price. The bulls have shown resilience and strength, particularly around the $0.203600 market level. Since the last quarter of the year, the bulls have been determined to break out of their current range. They initially staged a breakout at the $0.250300 level but then pulled back and retested that level.

Just last week, there was an increase in buyer activity as they pushed the price up to the $0.374000 level. However, the market flow is currently taking a negative slope. The Money Flow Index indicates a gradual decrease in buyer liquidity. Despite this, the buyers still have the intention of regaining their strength and taking control of the market.

Market Expectation

On the 4-hour chart, the buyer flow has weakened, allowing the sellers to maintain control for the time being. The bulls will need to make a significant breakthrough to regain their previous momentum and push the market higher. The next target in line remains the $0.400000 significant zone. 

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