ENJ/USD - Approaching the end or the beginning?
ENJ finds itself at a key resistance point. I'd be surprise for us to pump higher here still. Maybe we push to $4 then crash?
Hard to say because the charts gives us mixed messages, on one side we have the indicators that look very bullish particularly MACD while RSI is also bullish, but overextended, I mean look at it it's 96 on weekly and curving down... unless we explode higher, it's time to cooldown soon.
Volume still looks healthy... but my take on this chart is that it is a high risk play at this time. Not worth the risk, even if we pump more. This bearish wedge we have formed, is not very reassuring for longs… we have to break above it to invalidate it. Then if we break down, we will easily touch $1.5 if not lower.
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Hard to say because the charts gives us mixed messages, on one side we have the indicators that look very bullish particularly MACD while RSI is also bullish, but overextended, I mean look at it it's 96 on weekly and curving down... unless we explode higher, it's time to cooldown soon.
Volume still looks healthy... but my take on this chart is that it is a high risk play at this time. Not worth the risk, even if we pump more. This bearish wedge we have formed, is not very reassuring for longs… we have to break above it to invalidate it. Then if we break down, we will easily touch $1.5 if not lower.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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