Enjin Coin Buyers Eye Breakout Above $0.20530 Resistance
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ENJUSD Analysis – Buyers Gather Momentum for a Potential Breakout
Enjin Coin buyers eye breakout above the $0.20530 resistance level. The ENJUSD buyers are staggering to push through the $0.20530 significant level as they attempt to regain control after months of bearish sentiment. The recent days have given the buyers confidence to build more strength, as they look to capitalize on the current market dynamics.
ENJUSD Key Levels
Resistance Levels: $0.400000, $0.33000
Support Levels: $0.20530, $0.13690
Before the buyers began to reclaim their strength, the Enjin Coin price had been under bearish sentiment for months. This year, the bears have managed to get stronger all through the previous quarters, with the buyers struggling to maintain their momentum.
The buyers fought back, pulling the price up to the significant $0.40000 significant level in May. However, as June approached, the bearish trend slipped back into the scene, with the bears dropping the price down to the $0.13690 key level this month.
The buyers have only recently been able to build the confidence to change the tide. They are currently approaching the $0.20530 market level and intend to break through. The green histogram is currently on the rise for the MACD (Moving Average Convergence and Divergence) indicator, signaling a bullish emergence.
Additionally, the Parabolic SAR (Stop and Reverse) indicator is also showing a bullish trend, further reinforcing the buyers’ momentum.
Market Expectation
In the short-term timeframe, a consistent buy order can be observed as the buyers approach the $0.20530 key level.
The Parabolic SAR is up towards buy sentiment, indicating that the buyers are targeting a breakout. However, this can only be achieved by an increase in bullish momentum, as the current market dynamics still suggest a delicate balance between buyers and sellers.
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