As most of the cryptocurrencies are drifting in the red once again, it will be interesting to see how the remainder of today evolves. Since everything hinges on Bitcoin’s momentum, a fair few altcoins may find themselves in a bit of trouble. The Enjin Coin price is an interesting example. Following its price surge a few weeks ago, the overall downtrend is still in effect today.
Enjin Coin Price Concerns Grow Worse
It has become apparent a lot of the top markets are under immense pressure right now. This is not uncommon where Mondays are concerned, yet it will make a lot of people very twitchy over the next few hours. Bitcoin is not looking all that great right now, which eventually drags all other markets down with it. It will be pretty interesting to see what kind of slaught one can expect, as every volatile period will yield new buying opportunities as well.
As far as the Enjin Coin price is concerned, things are not looking very impressive either. Its recent pump to $0.45 has resulted in steep corrections shortly after. Even today, it still struggles to maintain the $0.16 level following this new 6.9% decline. There is also an 8% decline in both BTC and ETH value, further adding more pressure to Enjin Coin’s trend as a whole. The trading volume, on the other hand, looks rather healthy, which is a positive sign.
On social media, the price predictions involving ENJ are all over the place. Australian Chartists sold Enjin Coin simply because the 10% profit obtained over the weekend was the maximum they could get from trading this coin. As such, this subsequent decline may be a result of speculators cashing out in quick succession, although it remains to be seen how much damage that would cause. It seems this user doesn’t favor buying ENJ again, even at the current value, which could be rather problematic.
sold #ENJ too for the moment, too late sell in general since our target-sell very close not filled without recognize it, well still 10%, not…