- Enjin Coin trend shows a firm uptrend
- The price for ENJ surged above the $0.3905 mark and reached a high of $0.4266
- Strong support has been established at $0.3567
Enjin Coin token shows that the cryptocurrency is currently on a strong bullish signal today, taking the price as high as $0.3905.Although the bears were in control of the market earlier, bulls have managed to turn the tables and sent the price higher. The EJN/USD pair is currently consolidating in the range between $0.3726 and $0.3905, while the bulls are looking to break past this resistance level and send it higher toward the next significant resistance at $0.4266.
The cup and handle pattern that is forming on the daily chart could be an indication of a potential breakout in the near future, if buyers can keep pushing the price higher. The bullish momentum seems to be strong at the moment and a break above $0.3905 could open up the door for a move toward $0.4 in the near future.
The 24-hour relative strength index (RSI) is currently at 69.96, which indicates that the market has some room to move higher before becoming overbought. The moving average convergence divergence (MACD) is currently above the signal line (red), indicating that the market is in bullish territory. The 50 -day moving average is currently at $0.4206 and the 200-day moving average is at $0.3506, which indicates that the long-term trend is still bullish. The four-hour Enjin Coin trend illustrates that the present condition of the market demonstrates bullish potential as the price moves upward. The coin has been forming higher highs and higher lows, which indicates that the bulls are in control of the market in a 4-hour price chart. The market has been trading at $0.3905 for the last 4-hours and is anticipated to continue since the bulls are in control of the market.
The 50-day moving average is currently at $0.4147, and the 200-day moving average is at $0.3788, which indicates bulls are still in control of the market. The RSI is currently at 63.71, which indicates that the market is overbought. The MACD line (blue) is currently above the signal line (red), which indicates that the market is in a strong uptrend.
Overall, the cryptocurrency ENJ/USD pair, according to Enjin Para, is currently in an upward trend. The currency has increased in value somewhat and is presently trading at $0.3905, with the bulls dominating the market sentiment across all time periods thanks to technical indications that are in their favor.
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Source: https://coinedition.com/enjin-coin-advances-upwards-to-0-3905-after-a-successive-bullish-run/