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Ethereum, Cosmos, Enjin Price Analysis: 15 November

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The Crypto Fear and Greed Index was noting a figure of 86, at the time of writing, with the same over 80 for over a week now. Ethereum was on a strong uptrend and pulled back to a level of support while Cosmos looked set to register a small drop in price. Enjin, on the contrary, was strongly bullish as it appeared to break decisively past a level of resistance.

Ethereum [ETH]

Ethereum, Cosmos, Enjin Price Analysis: 15 November

Source: ETH/USD on TradingView

Ethereum broke out of a symmetrical triangle (orange), a continuation pattern that saw ETH rise towards its resistance around the $480-region. However, selling pressure soon mounted and ETH was forced back to $460.

The RSI highlighted neutral momentum on the charts and it remained to be seen whether ETH can hold the $450-support. A close below $450 could see the price slide down to $420.

In other news, Binance recently announced the launch of BTokens – Wrapped Tokens on the Ethereum network.

Cosmos [ATOM]

Ethereum, Cosmos, Enjin Price Analysis: 15 November

Source: ATOM/USD on TradingView

ATOM retraced about 80% of its gains following its surge from $3.78 to $6.26. It bounced off the support at $4.32 and was making steady gains, but broke under the trendline support.

A rising wedge (blue) had also formed, implying that a drop in price was imminent after ATOM closed under the pattern. It could slide to the level of support at $4.8. If that failed, $4.6 also seemed possible due to it being a region of demand.

Finally, the MACD formed a bearish crossover and could be headed below zero over the next few hours. This would reinforce bearish momentum in the cryptocurrency’s market.

Enjin [ENJ]

Ethereum, Cosmos, Enjin Price Analysis: 15 November

Source: ENJ/USDT on TradingView

ENJ formed an ascending triangle (blue), a bullish pattern that generally indicates rising bullish momentum. The price broke to the upside of the pattern on strong volume and could retest the level at $0.143 to flip it to support and possibly offer an entry for traders looking for confirmation.

The projected target for this pattern was $0.162, although it was more likely that ENJ would move as high as $0.154 before meeting resistance.

The OBV also showed a spike in buying volume in recent hours, confirming that the bullish breakout had legitimate buyer interest behind it.


Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.
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