Enjin Coin (ENJUSD) Bears Are Trading at $0.365000 Sideline
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ENJUSD Analysis – Traders Are Looking Forward to a Breach of Lower
ENJUSD bears are trading at $0.365000 on the sidelines. The bears are currently trading at the $0.365000 key zone, which has been a consistent level of support since the beginning of March. Despite the lack of solid action from the bears in the past few months, the bears are keen to drive the market with momentum in the coming days. Before the ranging market, the sellers had a good season after buying strength halted at the $0.552700 key zone. This gave the sellers more opportunity to displace buying strength and pull the market down to the $0.365000 key zone. Now, the market appears to be in a ranging phase, indicating that the bears have some control over the market.
ENJUSD Key Levels
Resistance Levels: $0.552700, $0.4762000
Support Levels:$0.365000,$0.236000
Although the bears have yet to make a solid attempt to push the market lower, they have been able to keep the price within the range of $0.476200 and $0.365000. This suggests that the bears are still in control of the market and are looking for an opportunity to drive it further down.
However, the Bulls are still in the game, and they could potentially break the $0.476200 key zone if they gain enough strength. This could be the turning point for the bulls, as it could give them enough momentum to break the key zone and push the market higher. If this happens, it could be a sign of a potential bullish trend in the coming days.
Market Expectation
As we speak, the ENJUSD sellers are currently on the sidelines close to the $0.365000 key zone. As more investors continue to push in, there could be enough strength to breach the significant $0.365000 key level. The MACD shows a selling reaction below the 0.00 level as selling activity continues to build up. When this stronghold is breached, the sellers can therefore aim for more order blocks below the $0.365000 key zone
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