Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice In its previous rally, bulls pierced through multiple price ceilings and marked exponential gains as Terra (LUNA) attained its lifetime milestone on 27 December. Since then, the last five weeks have led LUNA into a […]

The ENJ coin price action reverses within the falling wedge with the formation of an evening star pattern. Will the reversal result in a bearish fallout? The Enjin blockchain ecosystem is designed to provide software that enables anyone to build and trade, monetize and sell using blockchain. Established in 2009, Enjin is a part of the gaming industry; its first product- a gaming community platform dubbed the Enjin Network that grew into 20 million customers in the span of more than a decade. Co-founder of Enjin, Witek Radomski wrote the source code that created one of the very first Non-Fungible Tokens (NFTs) in the world. He is the co-author of the ERC-1155 Ethereum token standard. Let us move ahead to read about ENJ technical analysis. Past Performance of ENJ The ENJ coin price fell by almost 10% in the past 24 hours reflecting a retracement within the falling wedge pattern in the daily chart. The retracement comes with an evening star pattern near the resistance trendline. The price retraces to the $1.5 support level, that may push the price higher to avoid the lower low formation.  ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price continues to make lower high formation within the falling wedge pattern reflecting trapped bullish momentum. Therefore, the breakout of the resistance trendline may result in a dramatic bullish recovery and reach greater heights.  The crucial Exponential Moving averages showcase a death cross, a bearish crossover between 50 and 200-day EMA in the daily chart. Hence, the EMAs reflect a rise in bearish attention for the coin. The RSI indicator shows the slope failing to rise above the central line in the daily chart. The slope retraces to the 14-day SMA and can shortly give a bearish crossover reflecting a bearish takeover.  The Stochastic RSI indicator shows a bearish crossover of K and D line in the overbought zone reflecting the end of a bullish cycle. Hence, the indicator suggests a possible retracement in the ENJ coin price. In a nutshell, the technical indicators showcase the failure of bulls to sustain the trend resulting in a bearish takeover. The takeover can drive the prices lower to $1.5. Upcoming Trend The upcoming trend in the ENJ coin price has a bearish influence but the trend may struggle to sustain as the price action bottles up within the wedge. Hence, a reversal from $1.5 is possible. The reversal from $1.5 can find resistance near the resistance trendline and the $2 psychological mark. In the case of a $1.5 fallout, the support trendline and the $1.15 support level can reverse the falling prices. 

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The MANA coin price aims to overcome sellers at $2.5 to regain bullish momentum and bring a bullish breakout of a long-coming resistance trendline. Decentraland is designed to serve business owners, content creators, and people searching for a fresh artistic medium or business opportunities. It is also among the increasing number of initiatives that employ a DAO structure to govern decision-making. Therefore, MANA token holders are in charge of how the Decentraland world operates. By making and voting on updates to the policy and the particulars of the forthcoming LAND auctions and the content allowed by the metaverse. Let us move ahead to read about Decentraland technical analysis. Past Performance of MANA The MANA coin price action finally gains some bullish momentum to rise after a streak of lower price rejection candles near $2. However, the price struggles to sustain above the 200-day EMA and the sellers at $2.5 keep the bullish growth in check. Therefore, the token price must surpass the $2.5 mark to continue the uptrend. MANA/USD Daily Chart MANA Technical Analysis The MANA coin price will have sellers at the long-coming resistance trendline after it surpasses the $2.5 mark. However, increased trend momentum might result in a bullish breakout. The crucial Exponential Moving Averages struggle to sustain the uptrend as the falling 50 and 100-day EMA might soon give a bearish crossover. Moreover, the price struggles near the 200-day EMA. The Momentum Indicator shows a slope below the zero line indicating a downtrend in action. However, the slope dictates a bullish divergence as the slope rises higher to escape the negative territory. The Commodity Channel Indicator shows a bullish reversal as the slope exits the oversold zone to rise closer to the neutral territory. However, the slope remains below the zero line reflecting a significant underlying bearishness. Therefore, the technical indicators reflect a rising buying pressure in MANA, threatening to overturn the sellers-driven market. Upcoming Trend The MANA coin price continues to resonate within the falling wedge pattern as it finds support near the $2 mark. The token price must overcome the $2.5 level to reach the resistance trendline.  The released trend momentum might soon break $2.5, hence, buyers at current prices can target $2.5 and $2.85. On the opposite end, a reversal from $2.5 will result in a free fall to the $2 mark. In a shorter timeframe, at press time, TradingView gives a “BUY” signal for the MANA token. Technical Analysis for MANAUSD

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The ENJ coin price shows a bullish reversal within a long-coming falling wedge pattern as Metaverse coins gain bullish attention. Enjin Coin is a subsidiary of Enjin, which offers an interconnected ecosystem of games that are based on blockchain technology. The flagship product of Enjin is the Enjin Network, a social gaming platform where players can create clans and websites. Enjin lets game developers tokenize game items using their Ethereum blockchain. It utilizes Enjin Coin, an ERC-20 token, to secure the digital assets created by its platform. This means that products can be purchased, sold, or traded using real-world value. Let us move ahead to read about Enjin technical analysis. Past Performance of ENJ The ENJ coin price action forms a long-coming support trendline in the daily chart. Currently, the price bounces from the trendline and the $1.5 horizontal level to rise more than 10% in the past 24 hours. Therefore, a price jump to the next level at $2.15 is possible. ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price action creates a huge falling wedge pattern in the 24-hour chart, with a price jump from the support trendline. Hence, a further bullish continuation within the pattern to the resistance trendline is possible. The crucial Exponential Moving Averages struggle to maintain a bullish alignment in the daily chart after the bearish crossover of the 50 and 100-day EMA. The price breaks below the 200-day EMA, however, the recent jump hints at a possible fallout retest. The DMI Indicator shows the ADX above 30%, reflecting a solid trend momentum in play. But the -DI remains higher than the +DI line despite a recent reversal in the lines supporting a bullish comeback. The MACD Indicator shows a parabolic reversal in the fast line as it approaches to cut higher above the signal line. Therefore, a bullish crossover indicating a bullish takeover is possible shortly. Therefore, the technical indicators reflect a possible bullish reversal in the ENJ coin price. Upcoming Trend The ENJ coin price takes support in the long-coming falling wedge pattern reflecting the possibility of a bullish reversal to touch the resistance trendline. Therefore, bullish traders can find entry spots at current prices.  Buyers can target the $2 and $2.15, coinciding with the 200-day EMA as upcoming targets. However, a sudden jump in selling pressure will drive the price lower to the $1.15 mark. At the time of writing, TradingView analyzes the 4-hour chart of ENJ and gives a “NEUTRAL” signal. Technical Analysis for ENJUSD

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With the market flashing relatively low volatility over the past two days, Tron and NEAR saw bearish patterns while flashing weak near-term technical indications. On the other hand, Cosmos broke down from its flag and pole. Now, the $32.5-makr would be crucial for the bulls to defend. Cosmos (ATOM) The sellers ensured the $43-mark resistance […]

While the market entered into a short-term consolidation phase, VeChain, Tezos and Aave marked bearish patterns on their 4-hour charts. The buyers needed to step in and alter the broader sentiment to prevent a further breakdown from here. As the low volatility phase ends, the market will start unveiling the true sentiments in the days […]

As the ‘fear’ sentiment got worse, Bitcoin lost over 8% of its value in a few hours. Consequently, Tron and Axie Infinity managed to hit new lows on 24 January. Also, these bearish candlesticks accompanied high volumes, hinting at a strong bear move. The bulls visibly failed to counter the selling pressure. But, is that […]

Correlating with the market sentiment, altcoins like Avalanche, Stellar and AAVE exhibited a bearish inclination. Avalanche fell below all its EMA ribbons. Although its RSI recovered, it needed to ramp up its volumes to confirm a strong bull move. Stellar and AAVE were still on the bearish bandwagon while their CMF’s still try to keep […]

The post Polkadot (DOT) Price to Retest $20 Before Massive Upswing To $65! Buy Opportunity on Horizon? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Over the course of the day’s trading, the larger cryptocurrency market continued to fall, with Bitcoin falling into the $41,000s and Ethereum remaining just above $3,000. Cardano is down 4% to $1.36, and Litecoin is down 2% to $137.39 among altcoins. Terra, on the other hand, continued to gain traction, climbing 2% to $80. DOT …

Shiba Inu flashed a bearish inclination while bouncing back from the $0.00002706-level support. Its OBV still kept the bullish hopes alive. Also, Terra saw an increase in its buying power while its RSI crossed the midline. On the other hand, VeChain continued its bearish outlook after falling below its EMA ribbons. Shiba Inu (SHIB) While […]

Correlating with the Bitcoin sentiment, XRP skewed towards the sellers after marking oversold readings on its RSI and losing the 61.8% Fibonacci support. Further, Stellar fell below its 20-50-200 SMA. However, these cryptos saw an increasing CMF, keeping the bullish revival hopes alive. On the other hand, AAVE saw a golden cross after the 20 […]

MANA coin price coils up within a falling wedge pattern in the daily chart, increasing the chances of a breakout. Is it a time to hold or sell? Decentraland defines itself as a computer game platform hopped-up by the Ethereum blockchain that enables users to create, experience, and legitimate content and applications. Decentraland uses 2 tokens: MANA, an ERC-20 token that has got to be burned to amass non-fungible ERC-721 LAND tokens. These tokens may want to get hold of a spread of avatars, wearables, names, and a lot more on the Decentraland marketplace. Let us move ahead to read about Decentraland technical analysis. Past Performance of MANA The MANA coin price action coils up within a falling wedge pattern in the daily chart. The price action shows a downfall of 40% from the inception of the pattern. Moreover, the dynamic resistance of the 50-day Exponential Moving Average keeps the bullish growth in check. MANA/USD Daily Chart MANA Technical Analysis The MANA coin price action is close to giving a breakout of the wedge pattern in the daily chart. Therefore, traders can shortly find a breakout entry opportunity. Crucial EMAs (50, 100, and 200) move sideways in the daily chart with a bullish alignment. However, the price resonates within the 50 and 100-day EMAs resulting in a consolidation range. Therefore, the breakout of either EMAs will generate an entry signal. The MANA price action suggests upcoming high supply areas at $3.45 and $4.15 above the falling wedge. And, in case of a bearish breakout, the price can find demand at $2.5 and $2. The RSI indicator at 46% shows the slope struggling to rise above the central line in the daily chart. However, the slope sustains above the 14-day SMA, indicating a slight rise in the bullish power. The MACD indicator shows a bullish crossover in the MACD and signal lines in the daily chart. The crossover marks the end of bearish histograms and indicates a rise in underlying bullishness. Therefore, the technical indicators suggest a possible bullish breakout of the falling wedge pattern.  Upcoming Trend The MANA coin price shows higher price rejection near the resistance trendline and the 50-day EMA. However, the technical indicators suggest a possible bullish breakout. Nonetheless, the breakout of either side will generate an entry spot.  Therefore, traders can hold their positions till the price action gives a bearish breakout. At press time, the sentiments chart remains “NEUTRAL” for the MANA token. Technical Analysis for MANAUSD

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