Crypto

Enjin Coin (ENJ) Price Prediction 2023 — Will ENJ Hit $2 Soon?

Enjin Coin (ENJ) Price Prediction 2022 — Will ENJ Hit $5 Soon?
Written by Ladla Baloch
  • Bullish ENJ value prediction is $0.3993 to $1.2673.
  • Enjin Coin (ENJ) value may additionally attain $2 quickly.
  • Bearish ENJ  value prediction for 2023 is $0.2391.

In Enjin Coin (ENJ)  value prediction 2023, we use statistics, value patterns, RSI, RVOL, and different details about ENJ to research the long run motion of the cryptocurrency. 

Enjin Coin (ENJ) Present Market Standing

Present Value $0.419869
24 – Hour Buying and selling Quantity $169,204,043
24 – Hour Value Change 91% down
Circulating Provide 1,000,000,000
All – Time Excessive $4.82 (On November 25, 2021) 

ENJ Present Market Standing
(supply: CoinGecko)

What’s Enjin Coin (ENJ)?

Enjin Coin (ENJ) is an ERC-20 token native to the Enjin platform, a gaming neighborhood platform. It was launched in 2017 on the Ethereum blockchain. The transactions of ENJ are secured within the community by the proof-of-work (PoW) mechanism.  

ENJ is used to purchase, promote and commerce NFTs within the Enjin ecosystem. Thus, these tokens serve primarily as utility tokens for backing NFTs. Customers and builders can use Enjin (ENJ) to mint and create distinctive in-game NFTs. Together with ENJ, the Enjin ecosystem additionally has one other token referred to as Efinity token (EFI) which is the governance token of the native decentralized Enjin metaverse.

Enjin ecosystem allows customers to make the most of its native blockchain merchandise to create distinctive NFTs for companies and particularly within the gaming business.

Enjin Coin (ENJ) Value Prediction 2023

Enjin Coin (ENJ) holds the 91st place on CoinGecko proper now. ENJ value prediction 2023 is defined beneath with a each day time-frame.

ENJ /USDT Descending Channel Sample (Supply: Tradingview)

The above chart of Enjin Coin (ENJ) laid out a descending channel sample. Descending channel also called the falling channel. A descending channel is shaped by two parallel trendlines. The higher trendline, which joins the highs, and the decrease trendline, which joins the lows, run parallelly downwards. This sample is the attribute of a bearish market.

Presently, Enjin Coin (ENJ) is within the vary of $0.4125. If the sample continues, the worth of ENJ  would possibly attain the resistance ranges of $0.3697, $1.163, $0.5027 and $0.7520. If the pattern reverses, then the worth of ENJ could fall to $0.2329.

Enjin Coin (ENJ) Assist and Resistance Ranges

The chart beneath reveals the help and resistance ranges of Enjin Coin (ENJ).

ENJ /USDT Assist and Resistance Ranges (Supply: Tradingview)

From the above each day time-frame, we are able to clearly interpret the next because the resistance and help ranges for Enjin Coin (ENJ).

Resistance Degree 1 $0.3993
Resistance Degree 2  $0.7564
Resistance Degree 3 $1.2673
Assist Degree $0.2391
ENJ Resistance & Assist Degree

The charts present that Enjin Coin (ENJ)  has carried out a bullish pattern over the previous month. If this pattern continues, ENJ would possibly run together with the bulls overtaking its resistance degree at $1.2673.

Accordingly, if the traders flip towards the crypto, the worth of Enjin Coin (ENJ)  would possibly plummet to nearly $0.2391, a bearish sign.

Enjin Coin (ENJ) Value Prediction 2023 — RVOL, MA, and RSI

The Relative Quantity (RVOL) of Enjin Coin (ENJ) is proven within the chart beneath. It’s an indicator of how the present buying and selling quantity has modified over a time period from the earlier buying and selling quantity. Presently, the RVOL of ENJ lies beneath the cutoff line, indicating weak contributors within the present pattern.

ENJ /USDT RVOL, MA, RSI (Supply: Tradingview)

Additionally, the Shifting Common (MA) of Enjin Coin (ENJ) is proven within the chart above. Notably,  Enjin Coin (ENJ) value lies above 50 MA (short-term), so it’s in an uptrend. Presently, ENJ is in bearish state. Due to this fact, there’s a chance of a reversal pattern of ENJ at any time.

In the meantime, the relative power index (RSI) of the ENJ is 77.74. Which means that Enjin Coin (ENJ) is in an overbought state. Nonetheless, this implies a serious value reversal of ENJ could happen within the upcoming days. So, merchants have to commerce fastidiously. 

Enjin Coin (ENJ) Value Prediction 2023 — ADX, RVI

Allow us to now take a look at the Common Directional Index (ADX) of Enjin Coin (ENJ). It helps to measure the general power of the pattern. The indicator is the common of the increasing value vary values. This method makes an attempt to measure the power of value motion within the optimistic and unfavorable instructions utilizing DMI indicators with ADX.

ENJ /USDT ADX, RVI (Supply: Tradingview)

The above chart represents the ADX of Enjin Coin (ENJ). Presently, the ADX of ENJ lies within the vary of 46.5838 and thus, it signifies a robust  pattern. 

The above chart additionally represents the Relative Volatility Index (RVI) of Enjin Coin (ENJ). RVI measures the fixed deviation of value modifications over a time period. The RVI of ENJ lies above 50, indicating excessive volatility. In actual fact, the RSI of Enjin Coin (ENJ) is at 77.74 thus confirming a possible purchase sign.

Comparability of ENJ with BTC, ETH

The beneath chart reveals the worth comparability between Bitcoin (BTC), Ethereum (ETH), and Enjin Coin (ENJ).

BTC Vs ETH Vs ENJ  Value Comparability (Supply: Tradingview)

From the above chart, we are able to interpret that the worth motion of ENJ is just like BTC and ETH . This means that when  the worth of  BTC and ETH  will increase or decreases, the worth of ENJ additionally will increase or decreases respectively.

Enjin Coin (ENJ) Value Prediction 2024-2030

Quite a few components are taken into consideration when forecasting costs together with quantity modifications, value variations, market cycles, and comparable cash. Let’s predict the worth of Enjin Coin (ENJ) between 2024 and 2030.

Enjin Coin (ENJ) Value Prediction 2024

With a number of upgrades within the community, Enjin Coin (ENJ) would possibly enter a bullish trajectory. If the coin grabs the eye of main traders, ENJ would possibly rally to hit $6 by 2024. 

Enjin Coin (ENJ) Value Prediction 2025

If Enjin Coin (ENJ) sustains main resistance ranges and continues to be acknowledged as a greater funding possibility among the many traders for the subsequent 7 years, ENJ would rally to hit $9. 

Enjin Coin (ENJ) Value Prediction 2026

If Enjin Coin (ENJ) sustains main resistance ranges and continues to be acknowledged as a greater funding possibility among the many traders for the subsequent 4 years, ENJ would rally to hit $12. 

Enjin Coin (ENJ) Value Prediction 2027

If Enjin Coin (ENJ) sustains main resistance ranges and continues to be acknowledged as a greater funding possibility among the many traders for the subsequent 5 years, ENJ would rally to hit $16. 

Enjin Coin (ENJ) Value Prediction 2028

Enjin Coin (ENJ) holds up a robust stance as a greater funding possibility for the subsequent 6 years amid the traits within the highly-volatile crypto market. By driving important value rallies, ENJ would hit $20. in 2028.

Enjin Coin (ENJ) Value Prediction 2029

If traders flock in and proceed to put their bets on Enjin Coin (ENJ), it could witness main spikes. ENJ would possibly hit $23 by 2029.

Enjin Coin (ENJ) Value Prediction 2030

With higher developments within the Enjin Ecosystem, the crypto neighborhood would possibly proceed to put money into ENJ for the subsequent 8 years and drive important value rallies for the token. Therefore, Enjin Coin (ENJ) would possibly hit $26 by 2030.

Conclusion

With steady enhancements within the Enjin community, we are able to say that 2023 is an effective 12 months for ENJ. Because of this, the bullish value prediction of Enjin Coin (ENJ) in 2023 is $1.2673. However,  the bearish value prediction of Enjin Coin (ENJ) value prediction for 2023 is $0.2391.

Moreover, with the developments and upgrades to the Enjin ecosystem, the efficiency of ENJ would assist to succeed in above its present all-time excessive (ATH) of $4.82 very quickly. However, it may additionally attain $2 if the traders consider that ENJ is an effective funding in 2023.

FAQ

1. What’s Enjin Coin (ENJ)?

Enjin Coin (ENJ) is the native cryptocurrency of the Enjin Coin Community. It was launched as an ERC-20 token in 2017. It majorly is deployed in backing the NFTs within the gaming platform related to Enjin.

2. The place can you buy Enjin Coin (ENJ)?

Enjin Coin (ENJ)  has been listed on many crypto exchanges which embrace Binance, Coinbase Change, Bithumb, Kucoin, and Kraken.

3. Will Enjin Coin (ENJ) attain a brand new ATH quickly?

With the continuing developments and upgrades inside the Enjin Community platform, Enjin Coin (ENJ) has a excessive chance of reaching its ATH quickly.

4. What’s the present all-time excessive (ATH) of Enjin Coin (ENJ)?

On November 25, 2021, Enjin Coin (ENJ) reached its new all-time excessive (ATH) of  $4.82.

5. Is Enjin Coin (ENJ) a very good funding in 2023?

Enjin Coin (ENJ) appears to be one of many top-gaining cryptocurrencies this 12 months. In accordance with the recorded achievements of Enjin Coin Community previously few months, ENJ  is taken into account a very good funding in 2023.

6. Can Enjin Coin (ENJ) attain $2?

Enjin Coin (ENJ) is without doubt one of the energetic cryptos that continues to keep up its Bullish state. Ultimately, if this bullish pattern continues then Enjin Coin (ENJ) will hit $2 quickly.

7. What might be Enjin Coin (ENJ) value by 2024?

Enjin Coin (ENJ) value is anticipated to succeed in $6 by 2024.

8. What might be Enjin Coin (ENJ) value by 2025?

Enjin Coin (ENJ) value is anticipated to succeed in $9 by 2025.

9. What might be Enjin Coin (ENJ) value by 2026?

Enjin Coin (ENJ) value is anticipated to succeed in $12 by 2026.

10. What might be Enjin Coin (ENJ) value by 2027?

Enjin Coin (ENJ) value is anticipated to succeed in $17 by 2027.

Disclaimer: The opinion expressed on this chart is solely the creator’s. It doesn’t signify any funding recommendation. TheNewsCrypto crew encourages all to do their very own analysis earlier than investing.

About the author

Ladla Baloch

"Explore the captivating world of World Wide News with Phoosi.com, crafted by writer and SEO expert Ladla Baloch. Discover fascinating stories and gain new insights into the lives of your favorite stars. Visit us today to start exploring."

Leave a Comment

Trustpilot