ENIGMA (ENG) has the potential for big gains ever since its broke past the weekly 21 EMA and a long term trend line\resistance.
For now, its one asset that has my attention and a small position on it. I will be buying pullbacks on it and this one is a longer term play.
I have the 1st target as per the chart.
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Under MA cap
Many alt coins look 'healthy' and are sitting above this level
Is this the key to a coin purge?
Personally i am long this due to its partnership with Intel
Or is it simply dipping underneath?
Feel free to leave comments below
Enigma has formed a large ascending scallop relative to the hourly time frame.
The upper resistance of this is looking to break.
I've included some chart patterns the major one is the bump and run
Where price "bumps" above the major trend, and then "runs" back to the trend.
I really like this coin.
ENG is showing an under-over pattern. Below support the most volumes were transacted meaning this was likely a reaccumulation range. Right now it has reclaimed the previous support and has shown a retest on the weekly and twice on the daily. With the possibility of a 66% and 130% move to the upside this level has low risk to take a position. A stop below the VPOC...
ENG looks ready to break the downtrendline which started in Januari 2018, right before the burst of the Crypto Bubble.
If ENG breaks this trendline, it's off to the races. I'd wait for a close above 3100.
Without too much bla bla bla :D everything on the chart.
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ENIGMA COIN (ENG/BTC) TECHNICAL ANALYSIS:
1- We are Neutral in Enigma for very short term.
2- Coin may drop a little from here before resuming its uptrend.
3- Mid term and Long Term trend is Bullish .
4- Support Levels are 0.00003200 BTC (Weak) , 0.00002900 BTC (Strong) and 0.00002600 BTC (Strong)
5- Resistance Levels are 0.00004500 BTC (Weak) , 0.00005700...
Price action of Enigma / Bitcoin is forming a bullish Butterfly and soon it will be entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closed below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 0.00005540 to 0.00004948
Sell between: 0.00006000 to 0.00007108
Breakdown of the downtrend will be after the white line crosses the resistance line.
At least I expect growth to the level of testing EMA 200 at a price of 0,00006682
wonderful oscillator shows bullish mood
MACD in bullish divergence
The falling wedge pattern has formed
A reduction to the support line is allowed
From the support line I consider it logical to make a purchase
Fibbo immediate target 78.6
The main goal is at Fibbo 61.8