Overview
Timeframe: Weekly (1W), Binance
Price is sitting inside a multi-year demand zone $0.055–$0.095 with midpoint around $0.068.
Larger structure still showing lower-highs since 2021 peak, but currently in sideways range at the historic 2019–2020 base.
Key resistance levels: $0.095, $0.132, $0.2099, $0.30–0.362, $0.450, $0.6798, $0.9119, $1.2936.
Key support: $0.068, $0.055 (bottom of the box). Historical low marked at $0.0322.
---
Pattern & Context
Pattern: Sideways Accumulation/Base forming above the $0.055–$0.095 zone. Multiple touches confirm defensive buying, but no higher-highs yet on weekly.
Implication: As long as price holds inside or above the zone, mean reversion rallies remain possible. A clean breakdown below the zone confirms continuation of the macro downtrend.
---
Bullish Scenario
1. Conservative (reclaim range):
Trigger: Weekly close above $0.095.
Validation: Retest of $0.095 holds as support → move towards $0.132 then $0.2099.
Extension: Break and hold above $0.2099 → next targets $0.30–$0.362, then $0.450 and $0.6798.
Invalidation: Close back below $0.095 after reclaim.
2. Aggressive (buy the box):
Idea: Accumulate within $0.055–$0.068 with tight stop below $0.055.
Initial target: $0.095 → $0.132.
Note: Possible wick into the bottom of the box before reversal.
---
Bearish Scenario
1. Breakdown of demand zone:
Trigger: Weekly close below $0.055.
Impact: Opens path towards $0.0322 (historical low).
2. Rejection at upper edge:
Rejection at $0.095–$0.132 could send price back to $0.068 and $0.055.
Invalidation (short-term bearish): A strong close above $0.132, shifting structure to more neutral-bullish.
---
Key Levels to Watch
Support: $0.068 → $0.055 → $0.0322
Resistance: $0.095 → $0.132 → $0.2099 → $0.30–$0.362 → $0.450 → $0.6798 → $0.9119 → $1.2936
Risk Management: Always use weekly close confirmation and set clear invalidation (e.g., below $0.055 for long bias). Volatility on altcoins remains high.
#ENJ #ENJUSDT #Enjin #CryptoAnalysis #PriceAction #SupportResistance #SupplyDemand #WeeklyChart #Altcoins #RiskManagement #DYOR #NFA