- Enjin coin price breached $1.40 and is now trading at $1.70 on Monday’s trading session.
- The SuperTrend indicator projects a buy signal. Until now, no signs of downtrend have been observed.
- The ENJ/BTC pair was trading at 0.00003387 BTC with a gain of 35.50%
The 4-hour technical chart of Enjin coin price projects a buy signal with an uptrend while presenting a SuperTrend indicator. Investors are intended to buy ENJ when the indicator turns from red to green while moving below the price. As long as the SuperTrend signals a bullish trend, the Enjin coin’s downtrend is ensured.
Enjin Coin Looks Heavily Overbought
Enjin coin price was $1.70; according to pivot points, ENJ’s critical support level is placed at $1.08. Whereas if it moves up, the key resistance level to watch is $1.40. While diving into the weekly chart of a 4-hour time-frame, it completes a pin bar candlestick pattern, representing a sharp reversal and rejection of price.
SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) intersects the SMA-100 (white), which projects a bullish trend. The price is above both the SMA’s, which is a positive sign for the asset.
RSI indicator (OVERBOUGHT), with a value of 76.20, indicates an overbought situation in the coin. Moreover, Investors can see a cooldown in price in future trading sessions and can now close the positions for profits.
Traders May Close Positions in Enjin Coin
Enjin coin price traded at $1.70 with a gain of 31.77% in the last 24-hour. However, ENJ maintains a healthy gain of 169.85% on the weekly time-frame. In contrast, the market capitalization stands at $1 billion. Technically, investors can perceive a positive crossover in SMA. Moreover, SuperTrend also indicates a green signal, but the asset is heavily overbought; Enjin coin price may cool down in future trading sessions.
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