The Enjin Coin price forecast based on the daily chart indicates that ENJ breaks out as the price shoots towards a new high of $0.50.
Statistics for Enjin Coin Prediction
- Enjin Coin’s current price is $0.48.
- $479.4 million is the market cap of Enjin Coin.
- 1 billion Enjin Coins are now in circulation.
- Total supply of Enjin Coins is 1 billion.
- Enjin Coin is ranked 86th on Coinmarketcap.
ENJ/USD Market
Important Levels
Levels of resistance: $0.60, $0.65, and $0.70
Levels of support: $0.30, $0.25, and $0.20
The ENJ/USD currency pair is currently up more than 14.62% as of the time of writing, hitting a new monthly high above $0.50 with all guns blazing. According to expectations, the $479.4 million market cap coin ultimately gave a breakout about the 9-day and 21-day moving averages and has since moved into the price discovery zone. Enjin Coin, on the other hand, is only beginning its trip as it has set its sights on the $0.60 level as its next objective.
Do You Think the Price of Enjin Coin Will Increase?
Looking at the daily chart, it is predicted that the price of Enjin Coin will increase to $0.55 over the following days, with the current trend perhaps moving slightly higher. To reach the nearest resistance of $0.55, ENJ/USD may move close to the channel’s top dividing line. The coin may thus continue to perform well as long as the 9-day MA is higher than the 21-day MA and the price is above the resistance levels at $0.60, $0.65, and $0.70, respectively.
A growing positive trend is there as ENJ/USD is now trading at $0.48. While the signal line rises over the 60-level and confirms the uptrend, the technical indicator Relative Strength Index (14) also suggests that additional positive signals are entering the market. The support levels of $0.30, $0.25, and $0.20 might be reached if there is any negative movement of the market below the bottom limit of the channel.
As the coin trades above the 9-day and 21-day moving averages, the market price for Bitcoin concentrates on the upward trend within the channel. The next significant barrier might be around 2208 SAT and higher for ENJ/BTC, which is now trading at 1728 SAT if the market keeps moving upward.
On the other hand, a potential bearish action might push the currency below the channel’s lower border, taking it as low as the 1100 SAT support level. The Relative Strength Index (14) is going toward crossing into the overbought range, signaling additional positive signs, therefore the market may continue to have a bullish day.
Enjin alternatives
The Enjin price is trading just above the moving averages as it approaches the $0.50 resistance level. Until then, it is likely to break to the negative if the $0.40 support is tested. Traders should anticipate a price break to the negative if ENJ/USD starts to abuse this level. While everything is going on, the presale for the Love Hate Inu token garnered approximately $3.5 million, and the year’s sales of the token have been among the most frenzied. But after it goes live, it’s anticipated that the token’s price would rise as the presale draws to a finish in the ensuing days.
