Enjin Coin (ENJUSD) Buyers Battle to Keep Up Strength
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ENJUSD Analysis – Buyers Struggle to Regain Control
ENJUSD buyers battle to keep up strength. After reaching a key level of $0.605100, the price faced a pullback, causing the bears to strike back. However, the buyers are determined to reclaim their lost strength and push the price back up. The ENJUSD had been on a bullish streak, with the price surging to the $0.605100 market level last week.
However, the bears were not ready to give up without a fight. They launched a strong move, pulling the price down to a significant level of $0.442000. This level had previously served as a support level for the bears, but the buyers managed to regain control this week.
ENJUSD Price Zones
Resistance Zones: $0.605100, $0.479000
Support Zones: $0.442900, $0.250000
The bulls have been relentless in their pursuit of higher prices. After a period of consolidation last month, they managed to break free above the significant level of $0.311100. This breakout signaled the beginning of a bullish trend, and the buyers have been consistently pushing the price higher throughout the month. The Bollinger Band indicator confirmed this expansion with a breakout, further strengthening the bullish case.
Market Expectation
Despite the buyers’ best efforts, the ENJUSD price remains volatile. The recent switch in position of the Parabolic SAR (Stop and Reverse) indicator suggests that the sellers have regained control, at least temporarily. However, the buyers are not giving up. They are determined to overcome this setback and push the price back up to the $0.605100 level.
In a market filled with such struggles and uncertainties, traders can benefit from using forex signals to identify the best entry points. These signals provide valuable insights into market trends and can help traders make informed decisions.
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