Enjin Coin (ENJ) is a blockchain based platform that enables the creation of virtual in-game assets, interactions, and communities through blockchain to provide the opportunity for gamers to monetize their content. ENJ is a smart contract based gaming platform that allows users to create, manage, and distribute virtual assets, trade items and create virtual goods. The platform will allow for the creation of thousands of virtual item and allows for the creation of blockchain game-related items.
It has been 2 years since the launch of Enjin Coin (ENJ) cryptocurrency. This cryptocurrency is quite popular in its niche, but it is worth to see what the future holds for it. That is why I am making this prediction. I believe that in 2021 ENJ will hit $5.
Enjin Coin [ENJ] is designed to revolutionize multi-billion dollar online gaming industry by creating a blockchain game-development platform that enables users to develop and publish games on the Enjin Smart Wallet blockchain. Enjin Coin is built on the Ethereum blockchain, a decentralized computing platform and operating system for applications. Enjin Coin is the ERC20 token powered by the Enjin Smart Wallet.
- The range of bullish ENJ price predictions is $1.57 to $3.90.
- The price of ENJ may potentially exceed $5.
- For 2021, the ENJ negative market price forecast is $0.73.
We utilize data, price trends, ADX, and other information about ENJ to evaluate the cryptocurrency’s future movement in ENJ price forecast 2021.
Enjin Coin (ENJ) is an Ethereum token that aims to “make using non-fungible tokens (NFTs) easy for people, companies, and brands.” ENJ is a cryptocurrency that is used to directly back the value of the Enjin ecosystem’s NFTs.
Enjin Network, a gaming community network with over 20 million members, was established in 2009. Enjin started creating a suite of blockchain products in 2017 after a successful $18.9 million ICO. These tools enable anybody to effortlessly manage, discover, distribute, and connect blockchain assets.
Enjin Coin’s Current Market Situation (ENJ)
The price of ENJ is $1.27, according to Coingecko, with a 24-hour trading volume of $288,932,571 at the time of writing. In the past 24 hours, however, ENJ has fallen to 4.81 percent.
Furthermore, ENJ has an 834,331,121 ENJ circulating supply. ENJ now trades on Binance, CoinTiger, OKEx, ZG.com, and FTX, among other cryptocurrency exchanges.
Price Prediction for Enjin Coin (ENJ) in 2021
On CoinGecko, Enjin (ENJ) is now ranked 73rd. The price of ENJ in 2021 is forecasted using a daily time period, as shown below.
A falling top trendline and a rising lower trendline form a symmetrical triangle. As the price reaches the apex, it will almost certainly violate the upper trendline, resulting in a breakout and uptrend on rising prices, or a breakdown and downtrend on dropping prices.
A triangle may be observed on a chart after creating two converging trendlines. In contrast to the other triangle designs, the symmetrical triangle is a neutral pattern that does not lean in either way. While the triangle is neutral in nature, it nevertheless favors the direction of the current trend, and traders watch for breakouts in that direction.
ENJ is currently trading at $1.27. ENJ may then continue to decline or increase, depending on the breakout. ENJ will shortly breach the upper trendline, hitting $3.80, according on this pattern. If the trend continues, the price of ENJ may drop below $0.73.
Support and Resistance Levels for Enjin Coin (ENJ)
The chart below depicts Enjin Coin’s support and resistance levels (ENJ).
Support and Resistance Levels for ENJ/USDT (Source: Trading view)
According to the aforementioned chart, the resistance and support levels for ENJ are as follows.
- $1.57 is the first level of resistance.
- $2.12 is the second level of resistance.
- $2.90 for Level 3 Resistance
- $ 3.90 for Level 4 Resistance
- Level 1 Support – $0.73
- Level 2 Support – $0.45
ENJ’s negative performance during the preceding month is shown in the chart. This trend, however, will break out and hit the $2.80 resistance level. If the trend were to reverse, ENJ might fall below $0.73, indicating a negative indication.
Average Directional Index for Enjin Coin (ENJ) (ADX)
Now let’s have a look at ENJ’s ADVANCED DIRECTIONAL INDEX (ADX). The ADX, in particular, aids traders in assessing the strength of a trend as opposed to its direction. It may also be used to see whether the market is shifting or if a new trend is forming. However, it is connected to the Directional Movement Index (DMI).
The oscillator also has a range of 0 to 100. Furthermore, a high number indicates a strong trend, while a low value indicates a weak trend. It’s also often used in conjunction with directional indicators.
The ADX of ENJ is shown above, with the range at 15.89, indicating a weak trend.
Conclusion
ENJ is a cryptocurrency that is ideal for long-term investment. Furthermore, until the breakthrough, the short-term ENJ price forecast will remain negative. This year, though, it has a strong probability of hitting $3.80. This, however, will only happen if a number of prior psychological obstacles are overcome.
Furthermore, with the advances and updates to the ENJ ecosystem, ENJ’s performance is expected to increase to $3.80 in the near future. However, if investors think ENJ is a solid investment in 2021, it might reach $5.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
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Enjin Coin (ENJ), a blockchain-based cryptocurrency, is one of the most promising brands in the gaming industry. The gaming company has seen tremendous growth since the launch of its token in 2015. In the last three years, Enjin Coin has already raised $21M in its token sale, and it is currently the seventh most valuable cryptocurrency in the world. Now, the company is launching a gaming blockchain platform that will revolutionize the gaming industry.. Read more about enjin price prediction april 2021 and let us know what you think.
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