Enjin Coin (ENJUSD) Buyers Gain Modest Ground
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ENJUSD Analysis – Buyers Defend the $0.138900 Level Amid Soft Market Conditions
Enjin Coin buyers gain modest ground. The ENJUSD has been making a soft play, with the buyers holding off the sellers from breaching the $0.138900 key level. The bears have slowed down in their hot pursuit, putting Enjin Coin on a steady gain.
ENJUSD Key Levels
Resistance Levels: $0.430000, $0.320000
Support Levels: $0.20000, $0.244000
Enjin Coin price has been experiencing a breach lower after the buyers matched the breaks at the $0.400000 key level. After the buyers’ frontal attack ended, the sellers began to set the pace, pulling through lower levels. The sellers broke through the $0.21000 significant level in June, and the buyers haven’t gained enough strength to push back since then.
Last week, the bears traded down to the $0.138900 significant level, and the buyers have entered back, but the momentum is not yet solid, as seen on the Momentum indicator. The MACD (Moving Average Convergence Divergence) is also trading lower, indicating weakening buy-side sentiment.
Market Expectation
In the shorter timeframe, the market remains in a consolidation atmosphere. The bears can only press strongly if their momentum increases, which could then lead to more lows for the Enjin Coin.
Despite the buyers’ efforts to defend the $0.138900 level, the overall market sentiment remains mixed, with the buyers struggling to regain the strong momentum they had earlier. The technical indicators suggest that the sellers still hold some sway in the market, and the buyers may need to put in more effort to overcome the current challenges.
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