ENJ/USDT Critical Resistance Level. Break or Rejected down ??
Updated
💎 ENJ has certainly made an impression in the market with its recent surge. Currently, ENJ is in a consolidation phase at a critical resistance level, which could be a concerning sign as such patterns often suggest distribution.
💎 The presence of a false breakout characterized by a long bearish wick hints at the possibility of a downward correction toward the demand area. Should this occur, a robust bounce at this level may be expected, probability setting ENJ on a trajectory toward the designated supply zone and higher major supply levels.
💎 However, there is a less favorable scenario to consider. If ENJ retreats to the demand area without showing resilience—lacking a strong bounce or rejection—this could indicate a breakdown or loss of the demand zone. In such a case, ENJ may be poised for a further decline towards lower demand levels, possibly leading to a retest of the key support area.
💎 The presence of a false breakout characterized by a long bearish wick hints at the possibility of a downward correction toward the demand area. Should this occur, a robust bounce at this level may be expected, probability setting ENJ on a trajectory toward the designated supply zone and higher major supply levels.
💎 However, there is a less favorable scenario to consider. If ENJ retreats to the demand area without showing resilience—lacking a strong bounce or rejection—this could indicate a breakdown or loss of the demand zone. In such a case, ENJ may be poised for a further decline towards lower demand levels, possibly leading to a retest of the key support area.
Trade closed: stop reached
Just like clockwork, #ENJ is tracing our forecast, hitting that sweet 37.5% growth mark.
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