ENJ/USD - Bearish divergence on parabolic move!

Enjin find itself at resistance as indicated by the fib extension and $1.8 level.

We also painted a bearish divergence on RSI which is not a good sign, however MACD is still looking very bullish so this is not a major concern now, however if we continue to push up and paint a bearish divergence, price will drop eventually, so keep that in mind.

Since MACD histogram is looking healthy (expanding moving averages and ascending histogram) there are no reasons to be concerned right now.

Volume also looks good.

What needs to happen to remain bullish is for price to push above this resistance at $1.8, otherwise we may range and consolidate for a while as indicated by the green arrow.

There is also plenty of room to drop if for some reason the market turns bearish, so keep that in mind. For now we remain bullish, but do expect a consolidation, seems likely.

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