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ENJIN COIN Price Analysis : Will the coin break the consolidation phase.

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  • The coin is trading at $1.17 around 0.57% down from the previous level
  • The coin is trading in rectangle pattern which shows the consolidation in the coin 
  • The coin is trading at 0.00003743 BTC around 0.40% down and 0.0006308 ETH around 0.23% up with respect to bitcoin and ethereum
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The coin was founded in 2019 by Maxim Blagov and Witek Radomski. Its purpose was to provide the interconnected blockchain based gaming. The coin has the market capitalization of $1,171,712,644 and the circulating supply of 834,331,121.40 ENJ. The coin has an increasing bearish volume which indicates a bearish movement in the coin, the last 24 hrs volume of the coin is $161,601,676.

CHART ANALYSIS 

On charts we saw that the coin has successfully surpassed the downtrend line and now the coin is trading in consolidation. We can see a rectangular pattern on charts and the coin is trading on the base of the rectangular pattern trying to take reversal from the base. The coin had already formed the 2 red candles. If we see another Red candle today then we can see 3 black crows pattern in the coin which is the bearish pattern.

INDICATOR ANALYSIS

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According to indicator analysis we find out that the coin is taking resistance from 100 DEMA, 200 DEMA and 50 DEMA is trading very close to each other. We can see a crossover of these 2 in upcoming days. 

An interesting finding comes out in RSI that the RSI gives the uptrend breakout and currently trading at 47.18, no sign pof any divergence in the coin.

In MACD we find out that the MACD and the SIGNAL line cross each other. If they cross each other we can see some bearish momentum in the coin as the decreasing histogram suggests the decreasing bullish momentum in the coin.

Major support and resistance levels are 

S1= $1.14  AND S2= $0.83

R1= $1.54 AND R2= $1.92