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October 3, 2022
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Price analysis: Chainlink, IOTA and Enjin – April 8

Chainlink [LINK]

Source: LINKUSD at TradingView

Chainlink’s price jumped higher from support at $ 26.06. This pushed the currency from a bearish zone into a bullish territory. The 50 moving average and the signal line slipped under the candlesticks due to the upward momentum in the price.

The Bollinger Bands indicated an increase in volatility as they diverged. The Relative Strength Index also affirmed the upward movement, as it indicated an increase in buying pressure. The general state of the LINK market seemed extremely optimistic; however, this can be a sign of a trend reversal.


Price analysis: Chainlink, IOTA and Enjin - April 8 22

Source: IOTAUSD at TradingView

The IOTA market has seen the price consolidate above the $ 1.29 price level. Although the price has moved sideways, it has seen a bull market for a long time, as the signal line and the moving average of 50 have acted as a support and the price has not exceeded that level.

The Relative Strength Index indicated that the currency was about to enter the overbought zone. When the RSI moves above 70, the market will be saturated with buyers and selling pressure may arise to stabilize the market.

The MACD indicator signaled that the market momentum moved upward, as the general altcoin market was also witnessing a sharp increase in prices.

Enjin [ENJ]

Price analysis: Chainlink, IOTA and Enjin - April 8 23

Source: ENJUSD on TradingView

The Enjin market was showing two green bars appearing at the time of publication. The price went up after testing support at $ 1.95; the asset was trading at $ 3.30.

Meanwhile, volatility has escaped the ENJ market with the convergence of the Bollinger Bands. The moving average of 50 and the signal line acted as an immediate support for the currency. If the markets witness a trend reversal there soon, the price may maintain the signal line. The RSI was showing that the sharp rise pushed the asset into the overbought zone.

The momentum has also shifted to the buyers side. But, given that the asset was already in the overbought zone, a correction could reach the ENJ market.

Source: AMBCrypto

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