- Bullish Enjin Coin (ENJ) price prediction for 2021 is up to $2.
- ENJ bearish market price prediction for 2021 is $0.1.
This Enjin Coin (ENJ) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ENJ price analysis and prediction.
Enjin Coin is an ERC20 token that focuses more on blockchain gaming. Hence, the platform is one of the largest gaming networks that support over 250,000 gamers. Furthermore, gamers inside the platform will experience lower fees and prevent fraudulent activities.
In terms of technology, ENJ runs under the Ethereum blockchain. For this reason, the crypto must follow the protocols set by the Ethereum network. Also, the Enjin network has its own official wallet that supports virtual goods from trusted platforms.
Moreover, the network also provides an SDK with support for multi-languages and payment options assistance to online gamers.
Now that we already have an idea about Enjin Coin, do you think ENJ will be profitable crypto in 2021? Are you already interested to know? Therefore, join me and let us check the charts in this ENJ price analysis and price prediction 2021.
Enjin Coin Price Analysis 2021
ENJ is one of the digital assets in the crypto world that brings blockchain closer to the gaming world. Consequently, gamers can now store their crypto and collectibles using the network’s technology.
Do you think this is enough to maintain the ENJ uptrend position in the days to come? Are you already curious to know? If that’s the case, join me and let us find out in this ENJ price analysis.
The graph above shows how Enjin Coin enters 2021 in an uptrend position. Also, the chart displays the price boost of ENJ to almost +300% from January 1 to 25. Currently, ENJ trades at a high price $0.42 per crypto with a 30-day increased rate of +96.3%. Indeed, a bullish position favored by investors.
If this trend continues, ENJ, along with the bulls, might overtake its $0.49 resistance level and climb higher. In short, the crypto can rally its price even further to over +50% from its current trading position. Naturally, there is a big chance that this will happen if the crypto continues to win its investors’ trust.
Conversely, if the investors turn against the crypto, the bears might take over and dethrone ENJ from its uptrend position. In simple terms, the price of ENJ might plummet to almost $.3, a bearish signal.
In this case, ENJ must recover and climb up again to the bullish level above $.40. Otherwise, the bearish market might overcome the position of the crypto and pull ENJ even lower.
Enjin Coin Price Analysis 2021 – MACD
Meanwhile, the moving average convergence/divergence (MACD) of the crypto is about to perform a bullish crossover. If it does, ENJ might extend its bullish escapade with the raging bulls in the days to come.
In terms of trading, ENJ trades above the Arnaud Legoux Moving Averages (ALMA), an uptrend position. In this situation, traders can expect a decent performance from ENJ. Hence, traders such as swing traders can position themselves without worrying about price nosedive. However, if the MACD fails to perform a bullish crossover, it will be a different story.
Enjin Coin Price Prediction 2021
In terms of market position, ENJ’s market capitalization amounts to over $500 million. Also, the trading volume of the crypto estimates to almost $400 million per day. With this market performance, the crypto ranks as one of the top 100 cryptocurrencies in CoinGecko.
Would this market performance be enough for ENJ to maintain its bullish position in 2021? Are you excited to know the results? Well, what are we waiting for? Let’s get to the bottom of it in this ENJ price prediction 2021.
As seen in the chart above, ENJ was able to keep its uptrend position despite the high market volatility. As of this writing, ENJ trades a bullish price of $.58 with a 7 days increased rate of $53.8. Also, the chart displays the crypto’s price boost to over +250% since the start of 2021.
If this rapid growth rate continues, ENJ might rally its price towards the bullish price of $1 in no time. Indeed, this is a positive trend favored by the investors of the network.
Best of all, the price of the crypto could even reach the skyrocketing amount of $2. To be specific, the $2 crypto price has a growth rate of over +150%, an increased rate that ENJ already achieved in its previous market rally.
For this reason, we can say that the $2 price is not impossible to reach at all. Of course, this is most likely to happen if the bullish market continues to favor the crypto.
However, if the bullish market boycotts the crypto, the ENJ price may fall. Speaking of fall, the price of ENJ might drop below the Fibonacci level of 0.5. In this case, the bulls must press harder to push the bears away from their territory. Otherwise, the bears might pull down the crypto under the Fibonacci level of .618, a bearish territory.
Enjin Coin Price Prediction 2021 – RSI
When it comes to the relative strength index (RSI) of the crypto, ENJ has just passed level 70. In other words, the crypto is already overbought and may trigger a price reversal at any given time.
Therefore, scalp and day traders must trade wisely and must not be influenced by the market hype. With this in mind, traders can avoid unexpected losses due to the crypto market’s wild swings.
Enjin Coin is one of the silent cryptocurrencies that enter 2021 along with the bullish market. If this trend continues, the crypto might have the chance to have a bright future ahead.
All the interested traders can simply go to crypto exchanges such as Binance, Crypto.com, and Upbit, to name some.
Recently, Enjin Coin reached the bullish price of $0.66. For this reason, ENJ is one of the digital assets in the crypto world that catches investors’ attention.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.