ENJUSD Price Analysis – July 30
The Crossing of the price above the resistance level of $32 may increase the price to $33 and $34 price level. Failure to cross above the $32 level may decrease the price towards $31, $30, and $27 support level.
Resistance levels: $32, $33, $34
Support levels: $31, $30, $27
FTX/USD Long-term Trend: Bullish
FTX/USD is bullish in the daily chart. The price action on the daily chart has formed a bullish chart pattern called “Triple Bottom” and this has made the price to incline towards the former resistance level of $30. It made an attempt to push higher on July 18 but the Bears opposed the bullish movement and the price retested $28, where it bounced and continues its bullish movement after breaking up resistance level of $30 and $31.
The price is trading above the two EMAs where the 9 periods EMA is above 21 periods EMA, which indicates that the bulls are holding to the FTX Token market. The Relative strength Index period 14 is bending up at 65 levels displaying bullish direction indicate. The Crossing of the price above the resistance level of $32 may increase the price to $33 and $34 price level. Failure to cross above the $32 level may decrease the price towards $31, $30, and $27 support level.
FTX/USD Price Medium-term Trend: Bullish
The coin is bullish on the medium-term outlook. The price has been moving upward with the formation of more bullish candles after the formation of the Triple Bottom chart pattern at $23 level. It indicates that bulls were in control of the price last week. Looking at the resistance level of $32, the price is currently increasing above the 31 support level.
The 9-day EMA and the 21-day EMA are separate from each other and the price is above the two EMAs which connote bullish movement in the FTX Token market.