The ENJ/USDT chart reflects a bullish reversal opportunity with the price creating a falling wedge shape. An oversold level is seen in the RSI at 40.32 and Stochastic RSI at 10.60, and with the price moving towards key support levels with growing volume, ENJ is likely to have strong upward momentum in the near future. All these factors suggest a bullish future for ENJ over a long-term basis.
The chart shows a bullish trend developing in the other market cap sector, with a positive direction following the breakout of the current level of resistance. Consequently, it is most likely that altcoins, such as ENJ, will emulate the general positive market momentum. As can be seen with the use of RSI and Stochastic, a strengthening momentum is confirmed, supporting the bullish direction. According to these technical indicators, ENJ will move in a positive direction in the long run.
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The BTC.D market capitalization chart reflects a potential downtrend in a constricting range, signifying a potential drop in Bitcoin dominance. As Bitcoin's dominance continues to drop, one can expect better performance in terms of altcoins, including ENJ. The RSI and Stochastic indicators also imply bullish momentum for altcoins in the long run. With this, ENJ is most likely to be bullish for a long-term period, following the overall altcoin market trend.
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The ENJ/USDT liquidation map reflects a sharp price drop, but with a potential for stabilizing. There are mild bullish indications for a reversal in the market. As the chart stabilizes, a positive move in ENJ can reasonably be anticipated in the long run, taking overall market trends and bullish momentum in altcoins into consideration.
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Trade Details:
Entry: Around 0.1423 ( Join my Binance live for premium crypto signals )
1st Tp: 0.2173
2nd Tp: 0.2854
3rd Tp : 0.3399
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