Enjin Coin price future is determined by these two key levels
|- Enjin Coin price is contained inside a symmetrical triangle pattern on the 1-hour chart.
- The digital asset is on the verge of a significant 25% move if one of two critical levels breaks.
- It’s unclear which side has the upper hand, so traders must stay cautious.
Enjin Coin has been trading sideways for the past 24 hours and it’s contained inside a tightening range on the 1-hour chart. Two key levels stop the digital asset from a massive 25% move.
Enjin Coin price on the verge of a breakout or breakdown
On the 1-hour chart, ENJ has formed a symmetrical triangle pattern with a resistance trendline set at $2.6 and support at $2.41. A breakout above the key barrier at $2.6 would drive Enjin Coin price towards $3.3 in the long-term.
ENJ/USD 1-hour chart
On the other hand, a breakdown below $2.41 would send the digital asset towards a low of $1.8. The current price of ENJ is $2.5, which means Enjin is right in the middle of the pattern.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.