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Enjin was set to fall below $3 once more. Huobi Token also attempted to break out of a short-term downtrend in order to reach the $22-level, but was thwarted by a surge of selling across the market. Finally, Tron broke out over $0.121 to test the $0.166 resistance mark.
The Fibonacci retracement ratios corresponded to historical levels of assistance and resistance. ENJ has been on a deep downtrend since its rally from $2 to $4, taking it below the 50% mark at $3 to test the $2.78-level as support.
The market seemed to be heading south of $3 once more. The Supertrend tracker issued a sell signal that would only be reversed to a buy signal if the trading session closed over $3.24, allowing you to place a stop-loss with plenty of wiggle room.
The 20 EMA (white) was above the 50 EMA (yellow), but it was dropping, indicating the resumption of bearish pressure.
Huobi Token [HT]
Another exchange token that has performed exceptionally well in the last two weeks, HT, is likely to have more space to develop. Due to recent defeats, it was pushed to slip from $21.3 to $20.25. A escape from a descending triangle continuity sequence was halted as a result of this.
Momentum was bearish in the short term at the time of writing, as the MACD created a bearish convergence above zero, which may carry HT down to the $20.2-region. Closing a trading session below this amount can result in a deeper pullback to support in the $18.7-$19 range.
Despite the recent uptrend, the OBV has also seen a notable pullback. Buyers have been outweighed by sellers in recent days, indicating bearish sentiment.
TRX was rejected last week at the $0.126 mark, the 50% retracement level for its decline from $0.149 to $0.103. TRX checked support at $0.114 after this denial. Since then, the market has broken through the declining trendline (orange) and resumed its previous uptrend.
As TRX broke through the $0.121 resistance, the RSI rose above 50, and momentum turned in favour of the bulls.
This move’s extension thresholds plotted certain overhead resistance levels, such as the 138 percent level at $0.166 and the 150 percent level at $0.172. Trading volume was also strong, highlighting the recent surge in demand.