ENJ Technical Analysis: Filled Falling Wedge Taunts A Massive Movement

ENJ coin price shows a 4.45% bearish candle as the downtrend fills the falling wedge pattern indicating a highly volatile upcoming move. Key technical points: ENJ coin price shows a rising bearish influence The downtrend may shortly breach the descending support trendline. The 24-hour trading volume of Enjin is $110 Million, marking a 36% fall. Past Performance of ENJ The ENJ coin price shows a downtrend in action as the highly influential bearish trendline keeps the bullish growth in check. Furthermore, the multiple rejections from the resistance trendline make it relatively more potent than the support trendline. Hence, increasing the possibility of a bearish breakout. Source-Tradingview ENJ Technical Analysis ENJ coin price action shows a bearish engulfing candle increasing the chances of a bearish downfall below the weekly support of $1.27. However, a selling opportunity will highlight at the $1.20 breakout. The breakout-driven trend may have the potential of a 20% decline. Post-death cross the 50-day, EMA supplies a continuous diligent barricade to maintain the lower high formation. RSI Indicator: The RSI slope continues a diagonal uptrend below the central line due to the constant rejection at the 50% mark. However, the bullish divergence is quite evident in the last two supports at the descending trendline. Stochastic RSI Indicator: The K and D lines give a bearish crossover as the strings sabotage the premature bull cy...