Enjin Coin vs Bitcoin Chart Analysis

This is the last chart analysis request I received in the comments section and it comes from @vtropiq... Let's see what the chart has to say.

We are looking at Enjin Coin vs Bitcoin as the we already know the drill for the USDT pair, at least here we have a different chart.

The June 2022 low/support remains intact, which is good news.

The bad news is that the volume profile and 9-Nov. rejection does not signal a bottom, there can still be lower prices.

As long as the June 2022 low remains intact (0.00001712), the bulls can jump in at any time but, following the trend, we can expect the low to break even after a bounce if ENJBTC doesn't manage to move and close above MA200 on this timeframe.

Is that a mouthfull?
You tell me, I don't know...

I am just saying that a close above MA200 is needed in the least or else any bounce/upward correnction is just that... But the bottom is surely close.

Namaste.

P.S. The arrow are just potential path projections.
They do not predict expected time duration nor real path.

Comment:

Full trade signal for Enjin Coin (ENJBTC)

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ENTRY: 0.00001780 - 0.00001910

TP1: 0.00002210
TP2: 0.00002490
TP3: 0.00002955
TP4: 0.00003240
TP5: 0.00003700
TP6: 0.00004450

STOP: Close daily below 0.00001750

SHARED: 27-Nov-2022