ENJ is part of metaverse and we all know this is the metaverse season, however I think it's hitting a daily resistance. I've seen multiple bearish DIVs at 4h timeframe on RSI, CCI, squeeze momentum indicator etc... despite there's a clear ascending wedge on
VLPR shows there's a good demand at these level which paired with volume rising could breakout this bearish DIV. Moreover ENJ is trending on LunarCrush meaning this could give him another push. On the other side I wouldn't enter it right now, I'd wait until price goes over the resistance, or get definitely rejected. In case it goes down 0.382 Fib would be the first level at which you should pick some of them.
Definitely it's a token to be watched!
VLPR shows there's a good demand at these level which paired with volume rising could breakout this bearish DIV. Moreover ENJ is trending on LunarCrush meaning this could give him another push. On the other side I wouldn't enter it right now, I'd wait until price goes over the resistance, or get definitely rejected. In case it goes down 0.382 Fib would be the first level at which you should pick some of them.
Definitely it's a token to be watched!
Note
sorry for the late update, the second case scenario played out, this resistance held and price retrace. If you followed my advice you should have picked some at 0.382 which was where price reversed. Momentum is uncertain now, at weekly it seems like it'll have another leg down, in case it happens you can pick some more at 0.382 Fib
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.