- Enjin Coin price has rallied 7% in two days after a 21% decline since September 1.
- The downtrend’s back-and-forth nature has formed an Elliott-Wave diagonal pattern.
- Invalidation of the uptrend scenario is a breach below $0.387.
Enjin Coin price could skyrocket toward the September highs. Key levels have been identified.
Enjin price has potential
Enjin Coin (ENJ) price has been underwater most of the fall. Since September 1, the bulls have endured a 21% loss in market value. On October 26, the technicals show subtle signs that the ENJ price is prepping for an explosive retaliation against the bears.
Enjin Coin price currently auctions at $0.440. The persistent decline over the past two months has yet to be easily accomplished. On several occasions, there have been countertrend pullbacks signaling an underlying strength. The turbulent downtrend has created a coiling-looking Elliott Wave Ending Diagonal pattern. Ending Diagonals are considered reversal patterns, known for triggering sharp sky-rocket-like rallies in the opposite direction of the trend towards the origin point of the pattern.
ENJ/USDT 1-Day Chart=
The volume profile index shows a significant uptick in volume near the October 13 swing low and on October 24, which induced this week’s 7% rally. If the technicals are correct, the low for the pattern is already in. A powerful 30% rally targeting $0.560 should commence in the coming days. The Relative Strength Index compounds the bullish notion as it now hovers in the supportive territory after printing bullish divergences between October 14 and 20.
Invalidation of the bullish thesis will be a breach below the October 13 swing low at $0.387. A breach of the low could induce a severe liquidity hunt targeting $0.300, resulting in a 30% decline.
In the following video, our analysts deep dive into the price action of HBAR, analyzing key levels of interest in the market. -FXStreet Team
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

XRP extends losses despite cooling regulatory tension from SEC
Ripple's XRP declined toward the $2 level on Wednesday as Trump's tariff threats on international trading partners sparked double-digit losses across top cryptocurrencies in the past three days.

The Avalanche Foundation, in partnership with Rain, announces the launch of the Avalanche Card
Avalanche (AVAX) is hovering around $22.20 on Thursday after falling more than 10% this week. In partnership with Rain, the Avalanche Foundation announces the launch of the Avalanche card on Wednesday.

Ethereum price analysis: Short traders in profit as ETH loses $2,500 support despite Bybit hack resolution
Ethereum price tumbled 17% in the last 48 hours. With bear traders assert dominance amid Bybit hack resolution and looming U.S.

Meme coins slump, investor focus shifts toward Trump tariff threats
The meme sector is down on Wednesday, with top meme tokens declining alongside the broader crypto market following President Donald Trump's tariff threats.

Bitcoin: BTC demand and liquidity conditions remain weak
Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.