- Enjin coin is trading close to the 50 day moving average, momentum still in favour of bulls.
- Bulls are showcasing strength after stiff resistance from the bears.
- ENJ/BTC is trading at 0.00002741 BTC with an intraday change of -2.84% while ENJ/ETH is trading at 0.0004318 ETH with an intraday change of -3.70%.
Enjin price is currently trading just above the 50 day moving average and above the 100 day moving average but below the 200 day moving average. The price earlier faced stiff resistance and was unable to break the 200 day moving average, but the bulls are not giving up easily.
The relative strength index(RSI) is referring to a bullish momentum with the RSI line above the normal zone.
The moving average convergence divergence (MACD) is also referring to a bullish momentum with both the MACD line and the signal line resting above the zero line. The MACD line is above the zero line indicating the bullish prevalence thereby resulting in the printing of green bars in the histogram.
The fibonacci indicator is suggesting an immediate resistance at the $1.726 price level and if the price manages to break this level, $1.940, $2.213 price levels will come into play. The support levels indicated by the fibonacci are $1.576, $1.425, $1.239 price levels.
NOTE: The moving average 50, 100 and 200 are in colour Yellow, White and Red.
The MACD line is coloured Blue while the signal line is coloured Red.
The important support and resistance levels to keep an eye on are:
SUPPORT: $1.576, $1.425, $1.239
RESISTANCE: $1.726, $1.940, $2.213
TAKEAWAY: Keeping the technicals mentioned above in mind; if the price manages to break the immediate resistance suggested by the fibonacci, we may see a surge in the price of Enjin coin. The 200 day moving average will also act as an important resistance on its way up.