Enigma is a blockchain ecosystem that focuses on building pathbreaking privacy-oriented technologies and networks. It is a major contributor to the secret network with end-to-end encrypted transactions. ENG is its prime governance token. As predicted in the March starting days, ENG is bound for a downtrend. Past Performance On March 16, 2021, ENG opened at $0.231. As of March 22, 2021, ENG closed at $0.176. Thus, in the past week, the ENG price has declined by roughly 31.25%. In the last 24 hours, ENG has traded between $0.177-$0.184. https://ift.tt/318Tf4Z Days-Ahead and Tomorrow Currently, ENG is trading at $0.178. The price has declined from the opening price of $0.18. Thus, the market looks bearish. The MACD and signal lines are in the negative territory. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish, and we can expect a further price pullback. Currently, the RSI indicator is at 40%. It has just rallied from the ‘oversold’ region. Thus, it is a good time for swing traders to go long. The selling pressures are still high. High sell-offs will exert downward pressure on the ENG price. Hence, we can expect the price to fall further. The A/D indicator has increased sharply in the past 24 hours. Thus, whale accumulation activity is high. Heavy buying will exert upward pressure on the ENG price. There is a positive divergence here. Hence, we can expect the price to start rising after intermittent price pullbacks. ENG Price Analysis Presently, the price is below the Fibonacci pivot point of $0.179. It is nearing the first support level of $0.176. If the bears remain strong for some more time, the price is likely to fall below the second support level of $0.175. Thereafter, it may start rising. The price has tested and fallen below the 76.4% FIB retracement level of $0.178. If it does not retest and break out of this level by day close, then the downtrend will continue tomorrow as well. As of now, it is nearing the 138.2% FIB retracement level of $0.174.
The post ENG Looks Bearish with Decline from Opening of $0.18 – Technical Analysis appeared first on Cryptoknowmics-Crypto News and Media Platform.
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