Enjin Coin (ENJ) Technical Analysis: ENJ Price Primed To Hit INR 100 Soon

KEY TAKEAWAYS

• 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

Source: Tradingview

• 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

Source: Tradingview

• 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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