ENJ correction pattern formingHello traders,
ENJ broke old ATH and is forming corrective pattern to shoot again higher. Old ATH can become new support. Stay carefull and might the pips be with you!
BullRobin
ENJUSD trade ideas
Microsoft further supporting ENJIf anyone has been following the news, Enj was implemented into one of the most popular games, Minecraft. Further fueling the potential of this coin.
Looking for some feedback from the community on this chart, does the target of about $4.72 seem reasonable and the possible formation of a new channel?
Totally not a financial advisor.
Can't post an article from coindesk about MS + Enj. SMH
ENJIN: BULLS LOOKING STRONGExpect to break diag and horiz resistances then retest horiz res after breaking diag res before shooting to chase ATH
ENJ-USD Binance Using Elliot Wave Theory and Basic Trend Lines to establish a basic forecast for ENJ.
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$ENJ smudge more redAs eager as we are to get back to the pure sugary ride to ATH, we unfortunately have to pucker up and put up with the sourness of a bears for a little bit more. Looking at the RSI we continue to have lower lows and no sign of bullish divergence to signal trend reversal. I do think it is possible for us to hit as low $1.75, especially due to the market conditions with ETH/BTC are really testing their support lines.
'Would love to read your discussions.
ENJUSD - Short Term Downtrend - Hoping for bounce higherI hold ENJUSD and would like to see it head up. It has to meet a few criteria to get there - see chart.
ENJ Exiting Lower Bounds of Price ChannelEnjin Coin has fallen out of the lower bounds of a price channel going back to March 1, 2021.
ENJUSD Symmetrical triangle nearing completion on 4HENJ USD looks very similar to many other crypto pairs right now, with a large symmetrical triangle forming on the 4H chart that's nearing completion. Looking for confirmation of direction on the move sometime in the next 24-48 hours.
Volume is declining and is very low right now, so a high volume breakout indicates a large move measured by the impulse from the bottom to the top of the triangle.
Bullish breakpoint looks to be around $2.62-$2.66, with a first target of $3.18, and a secondary target of $3.78
Bearish breakpoint will look for a 23-47% correction to the downside.
$ENJ Needs to cool downIt's always good for crypto to take a step back and breathe. Alt coin season is upon us so there will be more gains to be made, but only if we do so responsibly.
Throwing this idea out to the community in hopes to get some feedback.
Disclaimer:
Not a financial advisor, invest at you own risk.
$ENJ, one more leg up for now?We're in a very bullish altcoin-year and those who have invested a substantial amount of their funds since January have done really well. Many if not most of the altcoins have done five-baggers, ten-baggers or even more. Yet we all realize that nothing goes up forever. How to decide when to get out?
One of the indicators I follow is RSI. Once we see a continuous pattern of lower highs in the RSI, one has to be careful. $ENJ is showing such a pattern. The earlier chart I uploaded spoke of a target of 2.4 and I still stand by this, but the log charts shows that the strength is fading away. Does this mean we are coming to the end of the bull market for $ENJ? Not necessarily, but it does predict that we may be getting ready for a bigger correction and only based on the shape of that correction, we can decide whether we are at the end or about to start a new bull-run towards new highs.
ETN and ENJ still making entry signals to the long sideEntering on the high of a prior 1 hour bar or directly at the POC line and then keeping the trailing stop below the low of prior day is my main setup for these kind of strong upmoving instrument.s
keep in mind for such momentum trade to place the breakeven stop after 1 hour as the trend might end soon.
More upside with EnjinEnjin Market Cap at the peak of 2017 was $400 million.
Right now its at $2B, only 5X.
The amount of innovation and the work that's been done in the Gaming/VR space since then + Partnerships + Covid tailwinds suggest there's way more upside in Enjin despite the reason parabolic moves.
Catalysts
- Jumpnet launch April 2021
- Efinity Launch 31 Dec 2021
Partnerships
- Microsoft Azure
- First gaming token approved in Japan
- Atari
ENJUSD Looking Extremely Bullish. Beautiful 80% SetupENJ recently broke out of a massive channel and managed to touch the 1.618 @ $2.30
I believe this is the 5th Wave and after some consolidation we could see another jump to the 2.618 target @ the $3.50 level for a potential 80% gain
Buy Zone: $1.87 - $2.00
Target: $3.50
Stop Loss: Below $1.50
Get LANDENJ may be the best crypter in all of the space this cycle. They have the NFT space covered in a big way, but I am interested in it from the Real Estate side. Block chain and RE are made for each other.
Follow that channel out for the rest of the year.
