Well, just took a quick look at Enigma, it looks like an exciting project with people from MIT, so I decided to draw a few lines on ENG chart.
From what I can see, we have established an upper trend with an upper trendline and a lower upper trendline. So we have an upper movement :) And that is good. Then I took a look at 1-hour chart and it seems like we did have a downwards trend for like last day or so, but it seems that we have broken out of that downtrend and are heading back up. I'm not yet 100% but I think we may be moving up to the previous level.
Looking at other indicators like RSI and MACD, I would say we are still good. We are not overbought on RSI, MACD could have been a bit clearer but I will take it and see where it leads me :)
PS! I'm a noob trader, so don't take my advice but if you have something to say please comment :)
It's a good technical analysis. Momentum is bullish and we clearly found daily support today. If the daily closes above yesterday's open, then we are bullish for sure. Even then I think we are bullish. Worst case scenario I see is a retest of the lower support line as you have drawn....but it seems we don't go that low. Let's keep watching. Great project.
@romansafi, it depends on what you are looking for? short-term or long-term... I would say long-term we are still bullish, but if you are looking short-term then I would hold on a bit more... looking at 1-hour Ichimoku chart, we just had a TK-crossover in bullish territory, it's weak bearish signal and then we have had a kumo twist that is turning bearish... Don't take my advice as financial advice as I have no idea what I'm talking about :P
KryptoKing
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@romansafi, right now we are weekend low volume consolidation phase. Long term we are still very bullish. Short term there may be a dip. I am adding more ENG on every dip. I think this is easily a 10x this year. I don't invest in overnight moonshots. I invest in strong teams for the long haul with a significant value proposition. This is one of my biggest investments this year. I am coming up on my one year anniversary for Ethereum investment which 100x since I bought it. Yes, some coins 100x in 3 weeks. I hope they stay around. I am not looking for Enigma to 100x this year but with this market cap, this coin supply, this team, this industry, and this product, I see very strong 10x potential this year and I will be very happy with that.