The price of Enjin Coins (ENJ) hit a new high on March 15 before falling slightly.
Monero (XMR) trades just below the long and short term resistance. The readings of the technical indicators are mixed.
EOS (EOS) has reclaimed the USD 3.90 support area but is trading within a parallel ascending channel.
Enjin Coin (ENJ)
ENJ has risen parabolically since the initial outbreak and hitting a new all-time high in early February.
Since then it has risen a massive 523%. This led to a new all-time high of $ 3.08. ENJ hit the high on March 15th.
Technical indicators, while bullish, are showing an extremely exaggerated rally. The weekly RSI of 95 is the highest ever recorded.
Also, ENJ has already moved above the external fib retracement level of $ 4.618 at $ 2.44.
The daily chart shows a similar exaggerated rally. The RSI has been overbought for 17 days.
When ENJ starts to decline, the closest support levels are at $ 2.05 and $ 1.72.
Highlights
- ENJ hit an all-time high on March 15th.
- There is support at $ 2.05 and $ 1.72.
Currency (XMR)
XMR hit a high of $ 287 on February 20, but has fallen since then. The rejection came right at the 0.5 fib retracement of the entire previous downward move.
The reading of the technical indicators is mixed. The MACD is rising but the RSI is falling. The stochastic oscillator made a bearish cross.
Hence, we cannot consider the trend bullish until XMR manages to hit the resistance area of $ 252.
The short term graph shows that XMR is trading within a parallel ascending channel. This is often a corrective move. Additionally, XMR faces resistance of $ 245.
Therefore, although RSI & MACD are bullish, we cannot consider the trend bullish until XMR breaks out of this channel and resistance.
Highlights
- XMR trades within an ascending parallel channel.
- There is resistance at $ 245.
EOS (EOS)
After diverging well below the $ 3.90 support area, EOS has risen since Feb. 23.
This area has now been reclaimed and possibly validated as support.
Technical indicators are based on bullish. The MACD has given a bullish reversal sign and the stochastic oscillator has made a bullish cross.
However, the six-hour short-term chart is not as bullish.
EOS also trades within a parallel ascending channel. The channel’s resistance line coincides with the $ 4.30 resistance area.
Until EOS manages to clear it up, we cannot consider the trend bullish.
Unlike XMR, where the MACD and RSI are bullish, they are relatively neutral for EOS.
If a breakdown occurs, the closest area of support is at $ 3.05.
Highlights
- EOS operates on an ascending parallel channel.
- It is trading above the support at $ 3.90
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