Market Overview: Enjin Coin (ENJUSDT) 24-Hour Performance

• Enjin Coin (ENJUSDT) rallied from $0.0715 to $0.0761, forming bullish momentum with strong close near intraday high.
• Key resistance appears at $0.0755–0.0760, with $0.0733 acting as a solid support level.
• Volume spiked during the bullish breakout, confirming strength in the upward move.
• RSI reached overbought territory, suggesting potential consolidation ahead.
• Bollinger Bands widened, signaling increased volatility as price tested upper boundaries.

At 12:00 ET on August 8, Enjin Coin (ENJUSDT) opened at $0.0715 and closed at $0.0757 24 hours later, reaching a high of $0.0761 and a low of $0.0715. Total volume for the period was 9.87 million ENJ, and notional turnover amounted to approximately $726,725, reflecting heightened interest during the rally.

Structure & Formations

Price formed a clear bullish trend over the 24-hour period, with a strong 15-minute bullish engulfing pattern visible around 12:00–14:00 ET as it moved above $0.0750. The price has yet to break above $0.0761, which could act as a short-term resistance or a consolidation level. A bearish doji appeared near $0.0760 late in the session, hinting at potential indecision among traders.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both in an ascending trend, indicating short-term bullish momentum. On the daily chart, the 50- and 100-period MAs are converging, with the price above both, signaling a bullish alignment.

MACD & RSI

The MACD crossed above zero and showed positive divergence, supporting the upward move. RSI climbed into overbought territory, reaching 68–70, which may prompt a pullback. However, as long as RSI remains above 50, bullish sentiment is likely to persist.

Bollinger Bands

Price touched the upper Bollinger Band multiple times, confirming high volatility. A notable contraction in band width was observed early in the session before a strong breakout, often a precursor to sharp directional moves.

Volume & Turnover

Volume spiked during the 15:00–16:00 ET time frame, coinciding with the $0.0750–0.0761 price surge. Turnover also rose sharply, supporting the bullish narrative. No clear divergence between price and volume was observed, reinforcing the strength of the move.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute chart were $0.0735 (38.2%) and $0.0750 (61.8%), both of which were successfully cleared during the rally. The price appears to be approaching the $0.0761–0.0765 range, which aligns with the 78.6% retracement level and could offer a near-term ceiling.

Enjin Coin may test the $0.0760–0.0765 range in the next 24 hours, with a potential consolidation or pullback expected if RSI remains overbought. Investors should remain cautious of volatility spikes and watch for volume confirmation around key resistance levels.