Enjin Coin (ENJUSD) Attempts to Establish New Break of Structure

Price Analysis – Enjin Coin Price Continues to Fall

Enjin Coin has continued to dip as sellers firmly dominate the market. Although price recently experienced a temporary pullback, bearish pressure remains intact. As a result, the market now appears positioned to resume its broader downward trend, thereby maintaining the prevailing bearish structure.

Enjin Coin Key Levels

Demand Levels: $0.02850, $0.02000, $0.01850
Supply Levels: $0.09900, $0.13200, $0.20000

ENJINUSD decisively broke the $0.0590 support level in October after two failed recovery attempts. Prior to this breakdown, a double top pattern formed during a retest of the bearish trendline on the daily chart. Notably, this retest aligned with resistance from the Bollinger Bands, which further strengthened the bearish reversal.

Subsequently, Enjin Coin tanked toward $0.0290, where a swing low was established. From this level, price staged an upthrust that extended to approximately $0.0380. However, in December, this recovery was capped by the upper Bollinger Band, thereby limiting bullish follow-through.

Upon reaching the $0.0380 resistance zone, the daily candle printed a long upper wick, clearly signaling rejection. Immediately thereafter, a series of bearish continuation candles emerged, driving price back toward the demand level around $0.0280.

Market Analysis

With price now retesting the swing low near $0.0280, further downside is anticipated. Therefore, Enjin Coin is expected to continue declining in an attempt to establish a fresh bearish break of structure.

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