Enjin performing Wave 4, Wave 5 to potentially $3,70 soon
So I did like 2 days ago an update about the current situation of Enjin.
We saw Wave 3 completing at 3,08. I expexcted via Elliot Wave Theory the target at 3,01.
Now we see the ABC correction (Wave 4).
A found its bottom at 2,30.
B found its top at 2,90.
Now C is expected at around 2,08 due to Wave Theory, which leads wave 4 to a maximum of 0.5 Fib mark of Wave 3.
In addition with the last push from 2 to 3,08 and the current wave 4 a bullish bat pattern is evolving.
This pattern has its target at 2,08 as well.
I am personally not 100% convinced, that we drop to 2,08. We have a pretty valid trendline which might hold.
If we see a pullback to the 2,08 level, wave 5 ist expected to shoot Enjin to 3,70. If we see a weaker pullback the target of wave 5 is decreasing.
Keep in mind that Enjin reacted also to the BTC pullback. So there is a little correlation to BTC in some cases.
This Idea is no financial advice. Make your own research.
We saw Wave 3 completing at 3,08. I expexcted via Elliot Wave Theory the target at 3,01.
Now we see the ABC correction (Wave 4).
A found its bottom at 2,30.
B found its top at 2,90.
Now C is expected at around 2,08 due to Wave Theory, which leads wave 4 to a maximum of 0.5 Fib mark of Wave 3.
In addition with the last push from 2 to 3,08 and the current wave 4 a bullish bat pattern is evolving.
This pattern has its target at 2,08 as well.
I am personally not 100% convinced, that we drop to 2,08. We have a pretty valid trendline which might hold.
If we see a pullback to the 2,08 level, wave 5 ist expected to shoot Enjin to 3,70. If we see a weaker pullback the target of wave 5 is decreasing.
Keep in mind that Enjin reacted also to the BTC pullback. So there is a little correlation to BTC in some cases.
This Idea is no financial advice. Make your own research.
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