<em><strong>ENJ technical analysis shows that the bullish attempt to end the correction phase under the resistance trendline influence prepares to push the ENJ price to $0.77.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>ENJ prices have increased by 0.28% in the last 24 hours.</li>
 	<li>The price action shows a post-retest reversal from the $75 mark.</li>
 	<li>The 24-hour trading volume of Enjin is $432 Million, indicating a rise of 4%.</li>
</ul>
<h3>Past Performance of ENJ</h3>
The ENJ price action shows an increase in market value after taking support at the $0.38 mark to reach the overhead resistance of $0.58. However, the reversal rally fails to overwrite the prevailing bearish trend as the resistance trendline knocks the price lower. Additionally, the 50-day SMA supports the bearish trend opposing the bullish growth twice last month.

<img class="aligncenter size-full wp-image-243149" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/07/A204BDA1-D9B3-4C31-A3F8-5DC167E29A97.png" alt="" width="2047" height="966" />

Source - <a href="https://www.tradingview.com/x/AXxECHNN/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>ENJ Technical Analysis</h2>
The ENJ price chart shows another bullish attempt to exceed the resistance trendline influence and rise above$0.58. In such a case, <a href="https://www.cryptoknowmics.com/news/why-is-it-important-for-traders-to-understand-crypto-reset-time/" target="_blank" rel="noopener">traders</a> can expect the breakout rally to reach the overhead resistance at the $0.77 mark.

The MACD indicator shows the fast and slow lines avoiding a bearish crossover event reflecting an increase in the buying pressure. The bullish trend regaining trend momentum helps the bullish histograms resurface.

The RSI indicator supports the thesis of a sudden increase in underlying bullishness as the slope reverses in the nearly oversold zone. The reversal surpasses the 14-day average line and approaches the midline.

Hence the technical indicators display an increase in buying pressure which might beat the resistance trendline.

In a nutshell, ENJ technical analysis showcases an increase in demand for the gaming token and signals a buying spot if a breakout occurs.
<h2>Upcoming Trend</h2>
If the increased buying pressure sustains through the day, traders can expect the ENJ prices to reach the $0.77 mark.

Resistance Levels: $0.58 and $0.77

Support Levels: $0.50 and $0.45

ENJ Technical Analysis: Will Increased Demand Break Bearish Trend?

ENJ technical analysis shows that a bullish attempt to end the correction phase under resistance trendline influence prepares to push ENJ price to $0.77.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ENJ Technical Analysis: Will Increased Demand Break Bearish Trend?

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