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XRP, STEEM, Enjin Price Analysis: 27 February

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XRP maintained a cautious market as momentum was weak on either side. STEEM could be due for a minor pullback before continuing its upwards trajectory. Finally, Enjin would present an upside of over 30% if the price breaks above the ascending triangle pattern.


Source: XRP/USD, TradingView

On the hourly charts, XRP slipped below yet another support level as weekly losses amounted to over 15%. After the said fall, however, XRP’s market has been cautious, with equilibrium maintained between the buyers and sellers. The Awesome Oscillator showed that momentum shifted sides twice in the span of a few hours. Despite the recent bearishness, XRP’s 30-day gains stood at a healthy 63%.

The RSI pointed north from around the 50-mark , suggesting that the price could move close to its immediate resistance once again. Traders can sell at resistance and buy at support to take advantage of the rangebound market.


Source: STEEM/USD, TradingView

On the 4-hour charts, STEEM continued to climb after bouncing back from the $0.308-support. The Awesome Oscillator highlighted an uptick in bullish momentum. Monthly gains also stood tall at nearly 150%, despite the sharp pullback. A break above the press time resistance level would present the next ceiling at $0.55.

On the other hand, the Stochastic RSI underlined an oversaturation of buyers and hinted that STEEM could be set for a short-term correction of its own on the charts. A bearish outcome would see the price move towards its $0.396-support.

Enjin [ENJ]

Source: ENJ/USD, TradingView

The resistance level at $0.63 was tested multiple times after Enjin Coin’s bulls attempted an upwards breakout on the charts. Since the price formed higher lows during the same time, an ascending pattern formed on the 4-hour timeline. The OBV also formed higher highs and confirmed ENJ’s uptrend. The 24-hour trading volumes were on the lower side, which was in line with a breakout confirmation.

The said breakout would likely present an upside of over 30% from the upper trendline. The Awesome Oscillator sides with the buyers after the green bars rose steadily over the last few sessions.


A business graduate with a keen interest in emerging markets across South East Asia. As a financial journalist, he covered stocks and market reports across Australia and New Zealand as well.
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