Enjin Coin (ENJUSD) Extends Losses Down The Price Zone
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Enjin Coin Analysis – Sellers Are Getting Stronger
Enjin Coin (ENJUSD) extends losses down to the $0.285000 price zone. The market is currently displaying a bearish trend, with sellers gaining an advantage as the price approaches the significant level of $0.285000. As we near the end of November, Enjin Coin is experiencing a shift towards a selling direction. The bulls have been unable to regain their strength and push the price back up to the $0.350000 market level.
ENJUSD Significant Levels
Resistance Levels: $0.464000, $0.333000
Support Levels: $0.285000, $0.207300
Last week, there was a notable surge in the bullish market as buyers made a significant push. This drove the price up from the key level of $0.247100. The bullish momentum resulted in a breakthrough of the $0.285000 key zone, but the upward movement was not sustained for long. Currently, there is a renewed drive from sellers as they attempt to break through the $0.285000 market level.
The outcome of this battle between sellers and buyers remains to be seen as the month comes to a close. The buyers may still show interest and make another attempt to fight back. The MACD (Moving Average Convergence Divergence) indicator indicates strength above the origin line. The signal line is still in the positive region. This suggests that there is still a presence of buy sentiment in the market. The MACD gives hope that buyers may reenter the picture for a countermove.
Market Expectation
However, the Moving Average Crossing indicator has not yet provided a clear-cut direction. The Golden Cross will give us insight into the overall market trend. It is currently unclear whether the market will continue its bearish momentum or if the buyers will be able to regain control. For now, the sellers are still extending losses as November closes out.
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