Buyers in Control Suggest Enjin Coin Should Break Through the $0.6 Barrier

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Although several cryptocurrencies witnessed significant corrections during this second month of 2023, the Enjin coin price has maintained a slow but steady recovery. The series of new higher highs and higher lows continued the bullish run and pushed the price to a five-month high of $0.569, so with today’s 10.77% jump, the coin’s price offers an all-time high. the latest high of $0.525 offering more growth potential for ENJ.

Key points:

  • Compared to some classic examples of a rounded bottom pattern, the Enjin coin shows a somewhat spiked bottom, which only means a more aggressive recovery and strong commitment from buyers.
  • An upside break of the weekly resistance of $0.525 propelled buyers towards the $0.6 mark
  • The intraday trading volume at the ENJ price is $230 million, indicating a 540% loss.

Enjin CoinSource- trading view

The last seven price actions in the Enjin coin price show the formation of a round bottom pattern. This chart structure is a signal of sustained recovery and trend reversal, offering multiple entry opportunities for traders.

Today, the coin price witnessed a significant entry and broke the last high resistance of $0.52. This breakout should offer buyers additional support to continue the uptrend.

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A daily candle closing above the $0.52 resistance will encourage buyers to lead a 6.5% uptrend to surpass the $0.577 mark. However, under the influence of this bullish pattern, the Enjin price is set for a sustained high towards the $0.75 mark.

On the other hand, if the daily candle closes below the $0.52 level, the coin holder may take a small trading range before the rally continues.

technical indicator

The daily slope of the RSI remains above the midline during the recent correction in the ENJ price, indicating that market sentiment remains bullish.

According to O Trend-based Fibonacci indicator, the breakout of $0.528 can lead to a rally to the following levels: $0.567 (0.5FIB), $0.6 (0.618FIB) and $0.654 (0.786FIB).

Enjin Coin Intraday Price Levels –

  • Cash fee: US$ 0.53
  • trend: high
  • Volatility: Average
  • Resistance Level – $0.56 and $0.6
  • Support Level – $0.528 and $0.488

For the last 5 years I have been working in Journalism. I follow Blockchain & Cryptocurrency from last 3 years. I’ve written about a variety of different topics including fashion, beauty, entertainment and finance. raech for me at brian(at)

The content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication bears no responsibility for your personal financial loss.

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