ENJ Technical Analysis: Market Reversal Has Begun

Last trading week on the ENJ market helped buyers believe in themselves and develop positive plans. The ENJ weekly candle from 21 December closed 25% above the opening price. The candle closed almost without a pin and buyers did not need a large amount of volumes. Buyers have not had such a great result since December 2021. The precondition for this was a failed attempt by sellers to take control of the $1.3 range. In history, we see that the local downward trend, which sellers began in November 2021, began to slow down to around $1.3. It was an unsuccessful attempt to break this mark and a weak update of the local low during the week of 21 February signaled the weakness of sellers in this range. The first problem of buyers on the way to the formation of medium-term growth trend is around $2.34. https://www.tradingview.com/x/cQo0BI4N/ It is at this point that the price slowed down throughout December. And after the breakdown of this mark, the fall of the ENJ price accelerated. However, a rebound of the ENJ price from $2.34 will not mean the end of the buyers’ initiative. We expect a local test of $1.6 and continued price growth to $3.86. At the moment, this is considered a pessimistic scenario. However, given the fact that the BTC price is one step closer to breaking the consolidation up, it is possible that the continued uncorrected growth of ENJ. For this scenario to become the main buyer, you do not need to allow any correc...