The eighty-seventh-ranked cryptocurrency Enjin Coin turned bullish amid the roller-coaster ride of the overall crypto industry. At the time of writing, the ENJ price remained at $0.4703 and has seen a 13% gain in price overnight.
According to Coinmarketcap, the bulls appeared aggressive as they accumulated 10% to market capitalization in the intraday trading session, registering $469.88 million. Meanwhile, speculation intensified in ENJ as its trading volume registered a sharp 670% increase in the last 24 hours to $294.7 million.Â
Enjin Coin on 4 Hours ChartÂ
Over the 4 hours price scale, ENJ price escaped today’s symmetrical triangle pattern (mentioned above the chart) with massive trading volume. Currently, price action indicates a bullish trend as it forms higher highs.
In the last 30 days, ENJ’s price climbed nearly 35% from March’s low of $0.333 and now digital asset prices are heading towards the $0.560 resistance level.
If ENJ’s price hits the retracement phase, buyers will be active on the ascending support trendline.
On the daily time frame, investors look at the all-important simple moving averages such as 20,50,100 and 200, motivating the ENJ valuation. The bulls should maintain the bullish sentiment in the future.
Indicators such as RSI and MACD suggest a continued positive outlook for this weekend. Meanwhile, the daily Relative Strength Index (RSI) has crossed the 60 mark and is still showing a buying opportunity till it reaches the oversold zone.
Similarly, the MACD signal is slowly rising as the moving line is on the verge of leaving the negative zone.
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