RLinda ! ENJUSDT-> Resistance breakdown. Beginning to rise?

25 Okt 2022

ENJUSDT on the global timeframe forms deceleration of decline, volatility reduction to the minimum values and rests in a fairly strong support zone 0.4110, which may affect the further development of the situation

On the background of a global bearish trend, the price stops and forms a downward wedge, which coincides with the trend. This set-up may be the first bell to change the direction of the price movement.

On the local chart, the price forms a resistance retest a day later and quite successfully, we see a breakout and impulse formation. I assume that the price may form a pullback to the area of 0.4200 to strengthen its positions with further growth.

• The short-term target is the level of 0.4417
  
• The next important zone is the resistance level of 0.4598.
  
• Medium-term target - liquidity zone 0.5158
  

Regards R.Linda!