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The Crypto Fear and Greed Index was posting a figure of 86 at the time of writing, with the same over 80 for over a week. Ethereum was in a strong uptrend and retreated to a support level while Cosmos looked set to post a small price drop. Enjin, on the other hand, was strongly bullish as he appeared to have decisively broken through a resistance level.
Ethereum [ETH]
Source: ETH / USD on TradingView
Ethereum came out of a symmetrical (orange) triangle, a continuation pattern that saw ETH rise towards its resistance around the $ 480 region. However, the selling pressure soon increased and ETH was forced back to $ 460.
The CSR showed neutral momentum on the charts and it remains to be seen whether ETH can hold the $ 450 support. A close below $ 450 could see the price slide to $ 420.
In other news, Binance recently announced the launch of BTokens – Wrapped Tokens on the Ethereum network.
Cosmos [ATOM]
Source: ATOM / USD on TradingView
ATOM retraced roughly 80% of its earnings after its rise from $ 3.78 to $ 6.26. It bounced off the support at $ 4.32 and was taking steady gains, but broke below the trendline support.
An ascending (blue) wedge had also formed, implying that a price drop was imminent after ATOM closed below the pattern. It could slide to the support level at $ 4.8. If not, $ 4.6 also seemed possible because it was a demand region.
Finally, the MACD it has formed a bearish crossover and could be headed below zero in the next few hours. This would reinforce the bearish momentum in the cryptocurrency market.
Engine [ENJ]
Source: ENJ / USDT on TradingView
ENJ has formed an ascending triangle (blue), a bullish pattern that generally indicates a bullish momentum on the rise. The price broke to the upside of the pattern on strong volume and could retest the $ 0.143 level to flip it to support and possibly offer an entry for traders looking for confirmation.
The expected target for this pattern was $ 0.162, although ENJ is more likely to move up to $ 0.154 before meeting resistance.
The OBV it also showed a spike in buying volume in the past few hours, confirming that the bullish breakout had a legitimate buyer’s interest behind it.
