Approaching the end of weak hands selloff
Two simple factors to consider about Enjin Coin:
WHO BOUGHT (AND WHY IT MATTERS)
On the 7th of April the Coinbase listing created a massive catalyst effect, probably attracting a few whales into its space.
This created a strong support at the 3USD level.
WHO SOLDS (AND WHY IT MATTERS)
Thousands of small players woke up with the temptation of a decent profit after participating in the ICO and buying in over the last 2-3 years.
These small players HAVE NO IDEA about the two factors listed above or the fundamentals of Enjin.
They mainly cared about paying off some mortgage, buying a car, spending money on some hookers, etc.
It seems the head and shoulders pattern was invalidated today, this suggests me the sell-off ended.
Volume tells us there were probably no whales involved in the sell-off.
My idea is that we shook off the bad apples from the tree and ENJ is now free to climb its path towards being a top 10 crypto, as it deserves to be.
- *Incoming disruption of the NFT ecosystem through Efinity and Polkadot synergy
*Ecological relevance thanks to gas free minting through the Jumpnet framework
WHO BOUGHT (AND WHY IT MATTERS)
On the 7th of April the Coinbase listing created a massive catalyst effect, probably attracting a few whales into its space.
This created a strong support at the 3USD level.
WHO SOLDS (AND WHY IT MATTERS)
Thousands of small players woke up with the temptation of a decent profit after participating in the ICO and buying in over the last 2-3 years.
These small players HAVE NO IDEA about the two factors listed above or the fundamentals of Enjin.
They mainly cared about paying off some mortgage, buying a car, spending money on some hookers, etc.
It seems the head and shoulders pattern was invalidated today, this suggests me the sell-off ended.
Volume tells us there were probably no whales involved in the sell-off.
My idea is that we shook off the bad apples from the tree and ENJ is now free to climb its path towards being a top 10 crypto, as it deserves to be.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.