Enjin Coin (ENJUSD) Presses Down to a Significant Level of $0.3680
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ENJUSD Analysis – Sellers Make a Lower Wave on the Crypto Price
ENJUSD pressed lower down to a $0.368000 significant level. The crypto market is currently in a state of flux, with the ENJUSD press going lower to the significant level of $0.368000. The sellers, who had been previously intercepted at the $0.471300 key level, have been actively pushing the market downwards. This has resulted in a bearish trend in the crypto price, with the trend likely to continue throughout the week and possibly into the month.
ENJUSD Key Zones
Resistance Zones: $0.547200, $0.471300
Support Zones: $0.368000, $0.234000
Despite the sellers’ strength, buyers have also been present, although they have had difficulty pushing back against the sellers. After a short trend of price rejection at the $0.417300 key zone, the buyers have been unable to make any major gains. This has opened the door for sellers to take control of the market, and they have done so with great success. It remains to be seen how the market will react in the coming weeks, with the $0.368000 key level now in sight. The sellers have been dominating the market, and the downward trend will likely continue unless the buyers take some decisive action. The bears have been on the prowl for the past few days, and it will take some serious effort from the bulls to prevent a further decline in the crypto price.
The ENJUSD pair has been trading in a bullish trend since March, and this bullish trend has been gaining significant momentum in the year 2023. The buyers have been able to push the price up to the $0.547200 level, which is the highest level attained so far this year. However, the sellers started to make their presence felt on the chart as the price dropped down to the $0.368000 key zone. The bears were able to press the price down to this key level, but the buyers were able to penetrate the market and push the price back up to the $0.471300 key level.
Market Expectations
Currently, the sellers are making a move to press prices lower as the Stochastic Oscillator is closing lower. The bears are now in control of the crypto price as they continue to press lower. The sellers have been able to make a strong statement on the chart, as the price has been pushed down to the key level and is now headed lower. This indicates a strong bearish sentiment in the market, and traders should be aware of the potential for further price drops.
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