Enigma has entered the stage of consolidation after it has rejected the resistance at 38.2% Fibonacci retracement level that is $3 area. The resistance has been rejected twice. The support at 23.6% Fibs, that is $2 area, has also been rejected multiple times along with the 200 Moving Average.
Overall, there is no clear trend established by ENG/USD, but a clear range trading is taking place. Break above the resistance or below the support is required for the price to show further intentions.
Break and close above $3.3 should send price up to 76.4% Fibs at $5.8. On the other hand, break and close below $2 could result in a downtrend continuation, potentially sending price down to $0.5 area.
Overall, there is no clear trend established by ENG/USD, but a clear range trading is taking place. Break above the resistance or below the support is required for the price to show further intentions.
Break and close above $3.3 should send price up to 76.4% Fibs at $5.8. On the other hand, break and close below $2 could result in a downtrend continuation, potentially sending price down to $0.5 area.