ENJIN (ENJUSD) is having a major bullish break-out today as not only did it break above the 1D MA50 (blue trend-line) for the first time in more than a month but also hit the 1W MA50 (red trend-line) for the first time in a year (since April 02 2022).
The chart on the right displays ENJ during its 2018/2019 Cycle and even though we need strong fundamentals to back such a strong and quick rally to the 0.786 Fibonacci level, a closing above the 1W MA50 now may be enough to initiate a steady rally to the 0.5 Fibonacci level, which is a little over 1.0500.