ENJUSDT trade ideas
Update on ENJ - Still not time to long yetENJ is a rather obedient coin. Since Jan’2021, it has done the following within the same channel
Reach new all time high (ATH)
Retrace
Consolidate sideways
Repeat
The current retracement is par for the course for ENJ's price action since Jan'2021. I maintain my position that ENJ will touch the lower end of the channel around mid-May, and then bounce off to touch a new ATH.
In other words, ENJ's dip or sideway movement might continue in the short term till 2H-May'21. Long accordingly.
(I'm personally anticipating a short-term recovery from now till mid-May, and then another dip.)
$ENJUSDT Enjin Coin entry PTs 1.75-2.10 PT 4.50-4.90Ascending Broadening Wedge signaling Bullish pattern, Target PT is equal to the height of the pattern from the break point...
ENJ USDT - HARMONIC PATTERN - GARTLEY (Revised - %48 P.Margin)Bearish Gartley pattern is seen in ENJ USDT.
Formation targets are indicated by Green lines.
For Point C, the Formation is valid unless the candle closes below R.S.2 (886) (Return Support Level ) in red.
It has around %48 profit potential (for T.P.1)
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Please do not make decisions just by reference to this analysis. We have friends who use many other technical analysis formations. I share these analyzes to contribute to the awareness of sworn translators and individual investors in alternative education style. It reflects my personal opinion.
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Not Investment Advice.
ENJIN, ENJUST - ready to continue the uptrendHello all,
This is another update for the ENJUSDT pair that I'm monitoring and holding for quite some time. Both the fundamentals and the technicals are quite strong for this one and I can see it easily double in value if the strong general market uptrend in the altcoins remains.
As visible on the daily chart, we are currently at stage 4 in the pair's cycle which is a consolidation period after revisiting the demand zone. Back in February this was the $0.45 zone and the successful defend of that level resulted in a rapid growth in the price of ENJIN.
What we are seeing now in late April is a similar picture with the price of the altcoin rebounding from the $2 level and preparing for another leg up. What we need here is a stable daily close above he $2.7 level (again - similar to the $0.6 area from the previous breakout).
If we zoom in to the 4-hour chart we will notice that the ENJUSDT pair is already out of the downtrend and currently above all important EMAs, so the horizontal resistance is the only obstacle ahead.
1st target up - ATH daily close at $3.4 - 26 percent from here and breakout target from the triangle pattern.
2nd target up - above ATH value - 54 percent
3rd target up - flying target at 160% Fibonacci extension - 97 percent
Regards
ENJ move up in few daysENJ looks like very close to be ready to get pumped up, if you get in at this point, around 2.4- 2.5 I would suggest to take out investment at 5 usd as you have doubled there.
Enjin (possible-breakout)I've been charting Enjin, and it seems positioned for a breakout soon. In order to see ALL of my findings though, you'll have to change the timeframe just a bit.
On the 1-day chart we are on the bottom of an ascending-channel; currently coming off of-a-third touch on the bottom-line of an ascending-triangle. The price target (low) of $2.30-$2.50 was just met; I posted the idea early Saturday morning on the 3-hour chart. On the smaller scale, the 15-minute chart shows a three-rising valleys chart pattern. This pattern is not as clean and "pretty" as I would like it to be, but it still shows indications of an over-all change to the price trend (which is promising for the ascending-triangle, and so on and so-forth.) I'm using Thomas Bulkowski's teachings for this set-up, as I use this strategy for my personal trading (along with others.)
Enjin I draw Enjin and it looks like it may break out of the rectangle and It is likely to fall to $ 2.2
Enjin (possible breakout)I've been charting Enjin and it's been showing patterns of an ascending-triangle. The 3-hour chart shows sale/buy volume the best (in my opinion.) Based on historical data of the ascending-triangle trading pattern, we might see a breakout by Thursday (05-13-2021.)
Enjin: (Ascending Triangle)I've been charting Enjin, and it seems to be showing indications of an ascending triangle (on the 1-day chart.) On the larger scale, it is currently on the bottom half of an ascending channel (still on the 1-day chart.)
