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I must be honest, this asset had not studied it until one of the Facebook subscribers kindly mentioned it. I would like to mention it and thank you for your collaboration, your name is Soid covers Melara, that by the way bro if that is your name WHAT COOL!
In another of the things that I would like to be honest with you, I do not usually follow altcoins, but Enjin Coin caught my attention a lot and frankly I already made it part of my portfolio for the long term.
Join me to review ENJ, in my new analysis to Cryptocurrency.
What captured me most about Enjin Coin is the position of his MM. I love watching such a formation and more when the season is high, in this case it is 1 Day.
However, I still have to be cautious about the fact that ENJ can back off enough to get them out of a position, whether they handle a tight or not-so-wide SL.
The truth is that Enjin Coin will only experience new highs, when it manages to hold first above 1,050 sats. This would be the first condition, the second is that it must exceed 1,400 sats.
This would give us the guideline to wait for the ENJ in 2,000 sats and up to 3,000 sats. But, we must bear in mind that this implies two things: the first that ENJ earns enough capitalization faster than the BTC; and the second that Bitcoin loses volume and the ENJ wins, or at least stays.
These two conditions must be taken into account.
In the short term Enjin Coin needs to stay above 985 sats, to pretend to stay within the bullish feeling it has generated. The MM of 20 indicates a slight intention of continuity to the downside and the MM of 200 gives us the guideline where we could expect an interesting enough support, which allows the price to return to the path of GOOD (bullish).
Attentive to the behavior of the price that is still lateral and in the short term the long entries would be more stable above 1,080 sats.
For the bears, you can only observe a sustained volume of sales below 850 sats, this level would lead us to experience new minimums and more shopping opportunities below, just stay tuned because I do not think the minimums last long .
Remember that the most important thing is the management of your capital and always enjoy what they are passionate about.
Analysis by Saul Cano of Trade and Hold for Cryptocurrency
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of Cryptocurrency, and should not be attributed to, Cryptocurrency.
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