ENJ Technical Analysis: The Last Test For Growth Remained
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As early as the third week, sellers are trying to put pressure on the price and continue the downward trend. Thus, the chart no longer has such aggressive weekly candles that were in January 2021. Although buyers have not shown enough initiative and strength, sellers are also not surprised by the power. Their three-week attack is as insignificant as the 14 March buyers' attack. So in the ENJ market there are competitions on the insignificance of price movements. And such competitions in most cases lead to a reversal of the local trend.
Given this fact, we expect a re-test of the $1.25 mark. At this point, investors will have a chance to buy ENJ with controlled risks. The worst-case scenario for the ENJ market at the moment is the price fall to $1. This scenario is possible with the instability of the Bitcoin price. Therefore, your investment on ENJ it is necessary to count on two points for purchase: $1.25 and $1.
Technical Analysis Of ENJ On The Daily Timeframe
Analyzing the movement of the ENJ price on the daily timeframe, sellers have not yet completed their downward movement. Over the past 3 trading days, sellers have easily squeezed the price lower without much effort in terms of volume. If buyers were still actively fighting above the $1.52 mark, then after losing control of this local mark, interest in ENJ significantly dropped. But, in our opinion, the price fell into a triangle of consolidation.
Volatility is constantly declining and if the $1.25 mark is kept, the next local target for buyers is $1.83. In the event of a breakdown of this mark-up - the profit on the rest of their positions should be fixed near the mark of $2.3. At this point is a strong liquidity level, which in history for a month restrained the aggression of sellers. In addition, this range is the middle line of the growth channel, in which the ENJ price moves from February 2021. In the event of an unsuccessful attempt by buyers to take control of $1.83, consolidation in the ENJ market may be delayed until the end of June 2022.
The ENJBTC Price Scares The Prospect Of Falling
What for the ENJBTC price is a fall by 30? Almost nothing... Nothing unreal and complicated. Looking at the weekly timeframe of the ENJBTC price movement, we can see that the position of buyers is very changeable. The price stopped at the local level, which is not strategic. Market participants without volumes drive the ENJBTC price within this level of 0.000034. Loss of control over this level by buyers will easily lower the ENJ price by 30%. And in this scenario, the ENJ price will still be near historical highs. The true apocalypse may begin after the ENJBTC price of 0.000025 is broken. In this case, the probability of growth of this cryptocurrency can be forgotten for years. Thus, it is necessary to carefully trade the ENJ cryptocurrency in the current realities. Even a small 20-30% profit on this cryptocurrency will be a victory in the current market.
