Enjin Coin (ENJUSD) Selling Trend Is Still on Track
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ENJUSD Analysis – Sellers Hope to Dive Deeper
ENJUSD selling trend is still on track as sellers still plan for more dives lower. The selling trend remains strong as sellers continue to push for further declines. Despite a brief surge in buying activity last week, the crypto price has continued on a bearish trajectory. The bears are determined to drive the price back to previous levels, while the bulls have struggled to regain control since the beginning of March 2023.
ENJUSD Key Levels
Demand Levels: $0.548600, $0.473800
Supply Levels: $0.354900, $0.234700
At the start of the year, the bulls enjoyed strong price action that pushed the coin up to the key zone of $0.548000. However, the sellers took control in March, and the coin has been steadily declining ever since. The bears have successfully pushed the price below the significant zone of $0.345900, indicating a strong bearish course.
The bears in the market have made a significant dive below the $0.345900 zone, indicating a strong selling moment. However, buyers have made a trade back to this zone, confirming a pullback. Despite this, the Moving Average crossing indicator still shows a bearish trend in the market. Traders should be prepared for more selling impact as the pullback confirmation suggests that the current selling moment is likely to dive lower. It is important to keep a close eye on the market and make informed decisions based on trends and indicators.
Market Expectation
The ENJUSD selling trend shows no signs of slowing down, and the bears are determined to continue driving the price lower. Despite a brief surge in buying activity, the bulls have struggled to regain control, and the coin remains on a strong bearish trajectory. In conclusion, the recent pullback in the market does not necessarily indicate a reversal of the bearish trend. Traders should remain cautious and brace for more selling in the coming days.
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