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.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
