Enjin Coin (ENJUSD) Price Aims to Breach Beyond the $0.517000 Key Level
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ENJUSD Analysis – ENJUSD Sellers Seek to Draw Attention
ENJUSD price aims to breach beyond the $0.517000 key zone. It is certainly impressive to see the ENJUSD price attempt to breach beyond the $0.517000 key zone. The buying strength that has been driving the market up has been gradually slipping away, as buyers have yet to break through this level. The bulls have been taking a break from their efforts, while the sellers have been making their presence known. It appears that the selling action could hold for a while, following the recent buildup of buying traders. The Stochastic Oscillator has been consolidating at the 100 level, which indicates that the buying strength is almost completely exhausted.
ENJUSD Key Levels
Resistance Levels: $0.517000, $0.433100
Support Levels: $0.235000, $0.319000
It is encouraging to see the market attempting to break through this key level, and we can only hope that the buying strength will return soon. The crypto market has been exhibiting a strong bearish trend in recent trading action. The bearish sentiment began at the $0.517000 key zone and was driven lower by the sellers, who were determined to push the price level down. This bearish trend eventually drove the price level down to a significant level of $0.235000.
At this point, the bulls were able to take charge, and the buying strength is now being exhausted. This shows that the market is beginning to stabilize and that the bearish trend may be coming to an end. It is important to note, however, that the market is still volatile and those further price movements could still occur. As buying strength continues to progress, the $0.517000 key zone will eventually be breached in the coming days.
Market Expectation
The bulls are still prepared to display their positive vigor in the short time frame. Following the price pullback, there could be more avenues for bullish continuation on the ENJUSD price. However, the market is making a pullback to the $0.433100 key zone as we speak.
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