ENJIN, ENJUST - ready for another leg up ?
Hello,
ENJIN is more than 2500% up since January 1 and as we can see on the daily chart, the general uptrend is intact as the price keep climbing in a well defined channel.
IF the general crypto market bull run is to continue and is extended in the coming weeks to months then we can see points 1 to 4 on our chart below repeat again thus causing another good run in ENJIN's price. Very good coin for long-term investment in my opinion
I think we can expect a further decline in price down to the demand zone (around $2.8) during the current pullback, most probably somewhere closer to the 21-day EMA on daily.
On the lower timeframes, 4-hour chart to be more precise, it is clear we are in a bull flag formation. This means we can expect the coin to bottom pretty soon given the fact is is already halfway through the pole. The target zone is based on the pole length
ENJIN is more than 2500% up since January 1 and as we can see on the daily chart, the general uptrend is intact as the price keep climbing in a well defined channel.
IF the general crypto market bull run is to continue and is extended in the coming weeks to months then we can see points 1 to 4 on our chart below repeat again thus causing another good run in ENJIN's price. Very good coin for long-term investment in my opinion
I think we can expect a further decline in price down to the demand zone (around $2.8) during the current pullback, most probably somewhere closer to the 21-day EMA on daily.
On the lower timeframes, 4-hour chart to be more precise, it is clear we are in a bull flag formation. This means we can expect the coin to bottom pretty soon given the fact is is already halfway through the pole. The target zone is based on the pole length
Comment:
ENJIN touched the support zone and is now building the next leg up as per plan