Ready to break outThe price of ENJ has mostly been going sideways since may. RSI and Stoch RSI might be signaling reversal. If price can stay above purple line it's possible that will act as a higher low.
Substantial retracement here definitely ideal to stay above 0.236 Fib level.
The last rally saw 400% gains
Enjin
An interesting pair ENJINENJ/BTC and ENJ/ETH
Both forming H&S patterns
Could a hidden truth be possibly found within these pairs structure, regarding ethereums decoupling from bitcoin?
Comment below if you spot anything or if im just an ETH fanboy
A chart for the USD pair
I recently added more of this coin!
ENJIN Long IdeaA few rising wedges have formed, along with a falling wedge that led to a large break to the upside of the major rising wedge
looking for a breakdown of this current price structure into a H&S pattern to the bottom of the wedge, this is the best opportunity for long.
Its also a good opportunity to go long at the middle of the wedge trend, i have listed this point.
Forming a H&S on the BTC pair so it seems appropriate to form a H&S pattern on the USD pair
I am long this project
Enjin Bounces of Ascending Channel Support - Buy OpportunityI really like this set up for Enjin vs BTC. The price action has been moving within this ascending channel since 2019 and recently confirmed support, giving us a nice bullish continuation setup. I outlined an inverse head and shoulders set up in green. It actually looks like we already broke the neckline and completed the pattern, but the price has returned back to the neckline which gives us a second chance to buy some before lift off. The MACD is bullish, holding above the zeroline with a near cross over the signal line. I'm long here! Look for resistance at the top of the channel, but don't be surprised if we bust right through it.
ENJ/USD- Retesting Break - Potential Entry IdeaENJ broke briefly from trend and is now retesting original break price.
I'd like to see a candle close above resistance before taking a position here and will be running a reasonably tight SL.
Target will be 20% from break if confirmed.
Alternate entry at the lower end of the channel or lower support line.
As always not financial advice, just thoughts and TA.
Bingaz
ENJ bullish divergencePlease feel free to comment or challenge me on my TA. If you like my idea, please leave a like to show support.
--------------------------------------------------------------------
- Bullish divergence on the RSI (purple)
- Bearish divergence played out perfectly in the past (blue)
- Touching weekly support at 1701 sats
- Close to daily support at 1617 sats
- Touching the 100-day MA
- Forming a descending wedge
Reversion to meanLooking like price could fall to 21 weekly MA looking for support. The price has repeatedly been pushing on the top of the bollinger band. The candles seem to be showing an uptrend with both higher lows and higher highs. The other indicators are also showing price moving down. Just seems like this is a reversion to mean and that ENJ will out perform ETH by the end of the year.
ENJ buy opportunityPlease feel free to comment or challenge me on my TA. Or leave a like to show support ---------------------------------------------------------------
- ENJ setting higher highs and higher lows
- Stoch RSI hit 0.99. Has performed well after this in the past
- Overal market sentiment is bullish
Entries:
- Bottom of the channel around 1800 sats
- Weekly support at 1701 sats
Targets:
- Daily resistance at 1986 sats
- Daily resistance at 2325 sats