Enjin Coin Cryptocurrency Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Enjin Coin cryptocurrency price down 2.65% on Saturday
(Updated on May 25, 2024)
The Enjin Coin cryptocurrency price fell by -2.65% on the last day (Saturday, 25th May 2024) from $0.363 to $0.353. During the last trading day the cryptocurrency fluctuated 5.40% from a day low at $0.344 to a day high of $0.362. The price has risen in 5 of the last 10 days and is up by 24.43% over the past 2 weeks. Volume has increased on the last day by 14 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 million shares were bought and sold for approximately $4.78 million.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -40.13% during the next 3 months and, with a 90% probability hold a price between $0.0441 and $0.266 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ENJUSD Signals & Forecast
The Enjin Coin cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.346 and $0.320. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -49.14%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for Enjin Coin cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.323 and $0.315. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Enjin Coin finds support just below today's level at $0.323. If this is broken, then the next support from accumulated volume will be at $0.315 and $0.287.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0185 between high and low, or 5.40%. For the last week, the cryptocurrency has had daily average volatility of 6.67%.
Our recommended stop-loss: $0.337 (-4.54%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 111 days ago.)
Trading Expectations (ENJUSD) For The Upcoming Trading Day Of Sunday 26th
For the upcoming trading day on Sunday, 26th we expect Enjin Coin to open at $0.353, and during the day (based on 14 day Average True Range), to move between $0.322 and $0.384, which gives a possible trading interval of +/-$0.0307 (+/-8.69%) up or down from last closing price. If Enjin Coin takes out the full calculated possible swing range there will be an estimated 17.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.366 (3.68%) than the support at $0.323 (8.50%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Enjin Coin cryptocurrency A Buy?
Enjin Coin holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Enjin Coin of Sunday, May 26, 2024
| Fair opening price May 26, 2024 | Current price |
|---|---|
| $0.353 ( 0.0302%) | $0.353 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENJUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.371 | 5.22 % | |
| R2 | 0.364 | 3.22 % | ||
| R1 | 0.360 | 1.98 % | ||
| Current price: | 0.353 | |||
| Support | S1 | 0.346 | -2.04 % | |
| S2 | 0.341 | -3.28 % | ||
| S3 | 0.334 | -5.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.441 | 24.93 % | |
| R2 | 0.412 | 16.71 % | ||
| R1 | 0.366 | 3.68 % | ||
| Current price | 0.353 | |||
| Support | S1 | 0.323 | -8.50% | |
| S2 | 0.315 | -10.76% | ||
| S3 | 0.287 | -18.70% |
FAQ
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