$ENJ had a strong run, but right now the market is telling a different story.
Price is sitting around 0.076 after dropping from a high near 0.099. That’s a sharp move down in a short time, and you can clearly see sellers stepping in with strength.
On the 15-minute chart, the structure has shifted. Instead of moving up, ENJ is now forming lower highs and struggling to hold any bounce. Every time price tries to push higher, it gets rejected quickly. That’s a sign that momentum has slowed down.
There was a small recovery from around 0.073, but it looks weak. The bounce didn’t carry enough power, and price is already drifting down again. This usually means buyers are not confident yet.
The 0.073 area is acting as short-term support. If that level breaks, we could see another leg down. On the upside, 0.080–0.083 is now acting as resistance where sellers are active.
Volume is high, but it’s not helping the price move up. That often means distribution, not accumulation.
Simple view:
Sellers are in control for now
Lower highs are forming
Support is close to being tested again
This is not a clean bullish setup at the moment. It feels more like the market is cooling off after a big move.
Right now, patience matters more than action. Let the market show strength again before expecting another strong push.
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