ENJUSDT: First Contact of 200D 1.25 Stdev Upper Band in Months
*Not financial advice*
I had tweeted out about this setup weeks ago after $ENJ had finally dumped sufficiently following hype from Microsoft's announcement of their pilot with Enjin for "Azure Heroes" NFTs. twitter.com/Coi...742591809490944?s=20
These long term bands are finally compressed quite tightly (relative to the massive expansion for Samsung's announcement last Spring), likely signaling a very volatile event in the mid term. In addition to this compression, ENJ/USD has steadily come closer to the 200D mean, and like in last Spring, maintained a very close distance to this MA for some time (these last few months) before exploding upwards. A pump through the upper 200D bollinger band at 1.25 standard deviations, a very reliable price pivot area, would likely result in a multi-week (and very volatile) rally. And somehow, this price even lines up as the entire vertical range's point of control (POC), likely a result of intense accumulation at this price for the two other cycles.
Be sure to do your own research into Enjin, because this has proven to be a very interesting project over the years.
I will attempt to update this post with targets as this unfolds, but activity like this isn't really too easy to plan for. Good luck!
I had tweeted out about this setup weeks ago after $ENJ had finally dumped sufficiently following hype from Microsoft's announcement of their pilot with Enjin for "Azure Heroes" NFTs. twitter.com/Coi...742591809490944?s=20
These long term bands are finally compressed quite tightly (relative to the massive expansion for Samsung's announcement last Spring), likely signaling a very volatile event in the mid term. In addition to this compression, ENJ/USD has steadily come closer to the 200D mean, and like in last Spring, maintained a very close distance to this MA for some time (these last few months) before exploding upwards. A pump through the upper 200D bollinger band at 1.25 standard deviations, a very reliable price pivot area, would likely result in a multi-week (and very volatile) rally. And somehow, this price even lines up as the entire vertical range's point of control (POC), likely a result of intense accumulation at this price for the two other cycles.
Be sure to do your own research into Enjin, because this has proven to be a very interesting project over the years.
I will attempt to update this post with targets as this unfolds, but activity like this isn't really too easy to plan for. Good luck!
