Price Analysis

Zilliqa (ZIL) Price On its Way to its ATH, While Enjin Coin(ENJ) Price Makes a Large Move!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Mar 31, 2022

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Highlights

    Zilliqa & Enjin Coin both are on the verge to make a huge move ahead of the monthly and the quarterly close

    ZIL price may attempt to hit its ATH this week while the ENJ price is undergoing a parabolic recovery

Zilliqa(ZIL) Price Analysis

Zilliqa ignited with a solid uptrend after consolidating heavily along with the $0.045 levels for a pretty long time. The price raised quickly and smashed the $0.1 target in no time and continued rallying towards the north to hit $0.2 levels. However, the ZIL price is witnessing a minor pullback at the moment, but the mounted buying volume may prevent the price from sliding down. And hence one can expect a notable bullish close for the Q1 trade. 

The ZIL price formed a notable bullish flag and spike more than 100% in the last trading day. And hence due to exhaustion, the price remained consolidated from the early trading hours. However, a brief accumulation may be expected until the end of the day and another massive upswing could be imminent. The asset may close the monthly trade on a bullish note and ignite a notable uptrend ever since the beginning of the Q2 trade. 

ZIL/USDT Technical Analysis

Pivotal Levels/ IndicatorsShort-Term Long-Term
Resistance$0.200$0.21
Support$0.19$0.12
Moving Average(MA)-50$0.14$0.053
Moving Average(MA)-200$0.08$0.07
Relative Support Index(RSI)60.992.4
MACD0.0170.02

The ZIL price appears to be extremely bullish in both STF & HTF. While the RSI is making a larger move towards the north, in the long term possibility of a decent plunge arises. Also, a significant selling volume is mounted in the short-term while buying pressure has topped in the higher time frame. The price has surpassed all the MA levels in both the time frames and hence display a bullish trend. 

Also Read: Cardano (ADA), Ziliqa (ZIL) & Decentraland (MANA) To Surge 30% Soon ! Here are the levels to Watch

Enjin Coin(ENJ) Price Analysis

The ENJ price was rejected initially while on its way to $2.5 at $2.1. Thereafter the price maintained a well-planned, parabolic recovery and was on the verge to test $2 at the earliest. However, at $2.1, the asset may yet again undergo a notable pullback which may drag the price close to the immediate support. If the asset successfully ignites a flip here, then may spike high to surpass $2.6 levels.

The ENJ price is undergoing a parabolic recovery which also resembles the Cup of the probable Cup n Handle pattern. And hence a significant pullback forming the handle of the pattern may be expected. Therefore, the plunge could find strong support at $1.66 where a significant flip to test the immediate resistance at $2.1 and the highs above $2.6 may be tested. 

ENJ/USDT Technical Analysis

Pivotal Levels/ IndicatorsShort-Term Long-Term
Resistance$2.1$2.9
Support$1.66$1.2
Moving Average(MA)-50$1.78$1.54
Moving Average(MA)-200$1.69$2.13
Relative Support Index(RSI)74.8569.2
MACD0.0370.081

The ENJ price is very close to its immediate resistance and on achieving these levels, a significant uptrend may be stabilized. However, a slight wrong move at the current levels may also drag the price towards the immediate support levels. And hence an upcoming couple of hours or the quarterly close is pretty much important to lay down the path for the Q2 trade. The RSI is surging high and a small pullback may make its way while the buying volume has aggravated in both time frames. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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