Enjincoin
ENJIN looking to complete H&S form before heading to the upside?Good evening friends today we are going to look at Enjin, I have been following Enjin since it's big initial pump back in April.
We can see that Enjin is almost done forming a head and shoulder form. Head and shoulder position is usually a selling indicator, but when its done forming I assume it will hit 3+ USD afterwards.
I think it will hit below the support line to establish the forming of the Head and Shoulder before continuing towards the upside!
What do you guys think? I'm always looking for input and other opinions!
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ENJUSDT Waiting for the breakoutENJUSDT (4H Chart) Technical Analysis Update
Waiting for the Resistance zone breakout
ENJ/USDT currently trading at $2.81
Buy-level: Above 2.90$ (only buy if 4h candle closes above 2.90$)
Stop loss: $2.47
Target 1: $3.15
Target 2: $3.27
Target 3: $3.55
Target 4: $3.85
Max Leverage: 2X
ALWAYS KEEP STOP LOSS...
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ENJUSD - FANTASTIC UPTREND🚀🚀ENJIN COIN
ENJUSDT BUY/LONG
For Spot and Futures Traders
Entry - $2.73 or market price
Tp1 - $2.9
Tp3 - $3.0
Stop loss - $2.50
Choose your leverage
Apply risk management
As we can see, price was formerly in downtrend. Price broke through successfully with a new uptrend in play.
Therefore I expect price to go long to $2.98 in the next seven (7) hours and to come down to $2.770 before it continues to go up.
What do you think?
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ENJ to continue uptrend +20%The Enjin Coin has already recovered some of the losses from the recent correction and the general altcoin setup looks favourable.
We’ve asked Hybrid Intelligence the following question:
“The cryptocurrency Enjin Coin (ENJ/USDT) settled at 2.68660 USDT at 10:18 AM UTC at the binance exchange on Friday, April 30. In your opinion, will ENJ/USDT trade above 3.22392 USDT (+20.0%) at any time before May 15?”
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Assurance: 81%
This is a very bullish sign — Hybrid Intelligence expects the uptrend to continue.
The price target is below the recent all-time high of $4. So the outcome doesn’t depend on breaking through untested resistance levels.
LONG on $ENJTechnical Analysis:
Currently seeing a bullish divergence on the MACD (Moving Average Convergence Detector) as well as the KST (Know Sure Thing).
The levels on the Stochastic RSI (Relative Strength Index) are above 32 (65.0344 at the time of writing) and I can see that a double Frying Pan + Jay Hook has formed on Enjin Token after a calming of the initial storm.
I believe we will see another run up of a high-profit trade on this token as it continues to gain traction.
Fundamental Analysis:
Enjin Token is an Ethereum based (ERC-20) token that solves the problem of NFTs with a new standard called ERC-1155 which is a next generation smart contract that can be used for tokens and NFTs (Non-Fungible Tokens) simultaneously
"ERC-1155 is the only token standard that enables you to create every type of asset, from currency and real estate to digital art and gaming items." - From Enjin Token documentation
Fundamentally this solves a lot of problems with the current state of blockchain as well as having a Java, GoDot (An open-source game engine for 2D and 3D games), and Unity SDK.
They also have developed a wallet software for smartphones (Android and IOS).
On top of all of this great development they also offer a GraphQL API that is extensible and can be used to interact with and query the Enjin Token network.
Side Notes:
Enjin token solves many problems currently in blockchain and I personally value it much higher than the current market price. There is a real potential for many new utilities and software to be developed on this platform that have many real-world applications.
Have a nice day and happy trading!
ARE YOU READY FOR 55K+ ?ARE YOU READY FOR 55K+?
@ down trend are the best tool for whales to pump the trend, every good increase made from down trend.
Enjin Coin (ENJ) - April 29Hello?
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(ENJUSD 1D chart)
We need to see if we can get support at 2.67570597 and get off the downtrend line.
If it goes down, you need to make sure you get support at 2.45973917.
If it falls in the 1.79815147-2.01754009 section, a Stop Loss is required to preserve profit and loss.
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(ENJBTC 1W chart)
(1D chart)
We have to see if we can get support and ascend at the 4811 Satoshi branch.
If it falls, it remains to be seen if it gains support at the 4484 Satoshi spot.
3344 Satoshi-3711 If you fall in the Satoshi section, you need Stop Loss to preserve profit and loss.
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It is advisable to trade at your average unit price.
This is because if the price flows below your average unit price, which was on an uptrend or downtrend, there is a high possibility that you will not be able to earn a large profit due to the psychological burden.
The center of every trade starts with the average unit price you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, so that the money that ultimately corresponds to the profit can regenerate the profit.
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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for the sake of convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the conventional stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.)
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: Closing price when closed
G2: Cigar at the time of opening
(Example) Gap (G1-G2)