Enjin Coin Holds Steady Near $0.12200 as Buyers Defend Against Bearish Pressure
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Market Analysis – ENJUSD Holds Near $0.12200 as Buyers Attempt Fightback
Enjin Coin holds steady near $0.12200 as buyers defend against bearish pressure. The ENJUSD price is in a mixed reaction, with the buyers trying to fight back against the bearish pressure. The crypto price began to slip close to the end of last month, drawing down from the $0.16900 key level.
ENJUSD Significant Levels
Resistance Levels: $0.33040, $0.27040
Support Levels: $0.169500, $0.12230
The Enjin Coin has experienced a trading section with buyers making initial attempts to breach through this key level. However, due to the absence of strong buy flow, the Enjin price returns with a deep lower. The market has begun consolidation for the new month, and the buyers are making it rough trying to pull out.
At this point, the bulls need to spread their wings if we want to see a reversal taking place. The buyers are present, not allowing the price to reach the $0.12200 price area. The Stochastic Oscillator is crossing out sellers, with buyers showing their presence.
However, the Parabolic SAR Stop and Reverse indicator holds sellers still pulling on the market trend. The battle between the bulls and bears is likely to continue, and the outcome will depend on the ability of the buyers to regain their footing.
Market Expectation
The bearish side is still strong on the short-time trend, and the buyers are still fighting through to win back dominance.
The Parabolic SAR Stop and Reverse are still striking lower, and the Stochastic Oscillator is still on the move as sellers still assume control. The buyers will need to muster a stronger defense to regain their footing and push the Enjin Coin price higher.
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