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The Enjin market continues to fail to break away from the $0.4473 support level which was supposed to be a base for the market’s bullish performance. Since the price action touches that price level on the 26th of September, it could not break away from this price. The third of October should have been the day the market began the uptrend, but the price began to defy all expectations on the 4th of October. Since then, the market remains undecided about its direction.
Enjin Market Price Statistic:
- ENJ/USD price now: $0.4556
- ENJ/USD market cap: $456,205,345
- ENJ/USD circulating supply: 1 Billion
- ENJ/USD total supply: 1 Billion
- ENJ/USD coin market ranking: #76
Key Levels
Resistance: $ 0.5000, $0.5500, 0.6000
Support: $0.4500, $0.3745, $0.3500
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Enjin Market Price Analysis: The Indicators’ Point of View
The expectation from the price actions, as the falling wedge triangle trend formed on the chart, is that the price of Enjin should take up an upside performance as the price actions reach the edge of the triangle. The price actions, yet, attempted an upward performance: It (started as expected) on the 3rd of September and continued till the second day but, they lose ground to the bears. This was how the bullish trend was cut short.
ENJ/USD 4-Hour Chart Outlook
In the first session of today’s market, the price was very bullish. Bears had almost no space in the session. However, they began to come back into the market at the very tail end of the session. In the second session, the bulls had initially taken the price to the $0.4600 resistance level before the bears brought the price back down. The $0.4600 price level continues to be a significant resistance that the market needs to break to establish a bullish trend.
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