ENJ is on the rise with such strength that ENJBTC has now just broken through the descending trend line it's tested on numerous occasions historically. As long as we stay above the level at 1850 we would quite possibly be seeing a long term gain of around 40% up to the 2700 level we've seen the price drift toward previously.
If you enjoyed or agree with this...
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...
We have this pattern on the Enjin Coin vs Bitcoin (ENJBTC) chart which we saw recently on the Solana (SOLUSDT) and Polygon (MATICBTC) trading pairs.
We have a low 12-May followed by a lower low 13-June.
While the MACD and RSI print higher lows giving us bullish divergence.
Right after the lower low on 13-June we have accelerating growth.
We now see prices moving...
We have a long-term higher low on the ENJBTC (Enjin Coin) chart.
We also have a falling wedge pattern with bullish indicators.
The next price jump can easily hit 70% in gains and up to 200%+ if we reach a new high.
You can find more details on the chart.
The blue dashed line is the stop-loss.
A full candle close below this line negates this analysis.
1.) Anything above price is a resistance, anything below is support.
2.) Proceed with caution when taking a trade based off of this chart.
3.) Make a copy of it to watch it in real-time. Click the share button, then "Make it Mine"
4.) It is very risky to set limit orders, I advise you to set alarms and when it hits, check how it reacts.
The price is testing the dynamic resistance on the daily timeframe after the price bounced on the daily support close to 0.786 Fibonacci level.
Right now the market is testing the weekly resistance as new support.
How to approach?
IF the price is going to have a breakout from the daily resistance, we could see a bullish impulse until the next resistance around...
ENJBTC is testing the daily resistance inside a pennant. IF the price is going to have a breakout, According to Plancton's strategy (check our Academy ), we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure...
This is a fun chart that I actually made into an NFT on the Enjin chain. The idea is simple. As you can see, ENJ is trapped in a certain zone. The future direction depends on where it breaks off towards. If ENJ breaks above the descending curve, then my prediction is at least 16k Satoshi by August 2022. It could take one of two paths up there. On the other hand,...
Looking strong after the R/S flip over ~2800 sats level
UCTS signalling a 1D Buy (usually strong) and now pushing up w/ increasing volume
Aiming for ~3700 sats as next important level from here
As you can see it the chart, ENJ has a long side way of accumulation zone with btc pair. Last peak of ENJ/BTC is at Mar2019 and try to break resistance again at Apr2021 but both are fail.
Now, We have a first green weekly candle that can stand above resistance (5200 satoshi). (First time)!!!
Metaverse, Gamefi and NFT is a mega trend now and enjin team always...
I have found two examples on the chart using Gann that portray a prior resistance turned support
This is a common price action feature
Also as price has consolidated above (8/1) I see a bigger Moonshot coming
As shown by the bars pattern and the rough sketch of how the indicator may evolve