- The trading volume of the ENJ Token in the last 24-hours, at the time of writing this article was -39.40%
- The price of ENJ/BTC and ENJ/ETH at the time of writing this article was 0.000042 BTC and 0.0005994 ETH, respectively
- The 50MA is crossing the 100MA
Long term view:-
We can see an excellent bullish run in the daily chart time interval, breaking the resistance level and giving a perfect bullish trend. Now the price is coming down after failing to break the resistance. Let’s look at the technical indicator to see if the price can sustain near the support or will fall down.
Firstly, we can see the MACD, which is showing green histograms as the MACD line is above the signal line, but the MACD line is changing its direction and will soon head towards the signal line. If it crosses, then it is a sell signal for the bears. In addition to that, RSI is in the neutral zone near 60, and the RSI line is pointing towards the oversold zone of 30, which means bears are winning the fight against the bulls. Lastly, we can see the Moving average as the 20MA is above the 100MA and 50MA, but the 50MA is below the 100MA, and both of the lines are very close to each other and may cross soon.
Short term view:-
In the 4-hour time interval, we can see that the price broke the 20MA support and is heading towards the 50MA.
Firstly, we can see the MACD, which is showing red histograms as the MACD line is below the signal line, and there is no sign that the lines will cross each other. In addition to that, we can see the RSI is in the neutral zone near 48, and the RSI Line is pointing sideways, which means bulls and bears are giving each other a good fight. Lastly, we can see the Moving average, 20MA, is above the 50MA and 100MA. Also, the 50MA is above the 100MA, which is a bullish sign.
Conclusion:-
Looking at both long-term and short-term, we can see the price is falling, but it may take the support soon as the MACD changes in the daily chart time interval and shows red histograms in the 4-hour time interval, which is already bearish and breaking the 20MA is also a bearish sign. Now the bulls will come into play,make support and push the price back up.
RESISTANCE:-$3.07,$4.00
SUPPORT:-$2.00,$1.60