- The ENJ price closed the previous day’s trade at INR 135 with a market capitalization of 154 Cr and a circulating supply of 874,674,705.57 ENJ (10 April, 2022)
- The asset is attempting to halt the bearish trend which ignited during the previous day’s trade but eventually may end up visiting the lower support
ENJ/INR TECHNICAL-ANALYSIS FOR SHORT-TERM
- The ENJ price attempted for a strong uptrend but woefully the price slash dragged the price from the local highs at INR 150 to the levels around INR 120
- In the due course, the ENJ price may slide down towards INR 120 to complete the inverse cup and handle a pretty bearish pattern
- With a breakout from this pattern, the ENJ price may slide down below the neckline and visit the lower support close to INR 111
- However, the asset could find a notable rebound from these levels to retest the neckline and further a massive pullback could drag the price towards the crucial lower support close to INR 100.
Additional read: Enjin Price Prediction.
ENJ/INR TECHNICAL ANALYSIS FOR LONG-TERM
- The long-term forecast appears pretty crucial as the asset posses both possibilities of a rebound as well as a breakdown
- After hitting the highs around INR 372, the ENJ price followed a notable descending trend until it visited INR 100.
- Despite a flip from these levels, the price appears to be primed to revisit these levels shortly.
- The levels along INR 100 are extremely important as if the price breaks from these levels, then it may fall into a deep bearish well. And if it rebounds successfully, then it may achieve the crucial resistance between INR 167 to INR 174.
Read detailed technical analysis of Enjin Coin here.
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