ENJ/USDT Long-Term Trend: Bearish
Key Resistance Levels: 1.5276, 1.9700, 2.6500
Key Support Levels: 1.3502, 1.2320, 1.0768
The price on the higher time frame is in a clear downtrend where it is posting lower lows and highs. Recently, the price succeeded to break the 1.9700 USDT mark, and it is traded below which shows that the sellers are still in control.
ENJ/USDT Medium-Term Trend: Bearish
On the 4-hour time frame, the coin posted a double top around the 1.7154 USDT mark which led to a reversal to the downside. The price is under the neckline of this pattern where we expect a higher correction and then a selloff all the way down to the 1.3522 USDT level.
Sell Limit Order @ 1.5176
TP 1 @ 1.3522
TP 2 @ 1.3502
Stop Loss @ 1.5995
Trade Safely 🙂
Turned out to be a nice trade, unfortunately few brokers trade this exotic crypto – mine doesn’t, so the signal did’t do anything for me.
Hello J-P, yeah it reached target profit 2. We will try to focus more on the main cryptos (BTC ETH XRP), but its good as well to post trading ideas about the exotic ones from time to time. Trade Safely.