Enjin Coin (ENJ) Price Prediction 2022 — Will ENJ Hit $4 Soon?

Enjin Coin (ENJ) Price Prediction 2022 — Will ENJ Hit $5 Soon?
  • Bullish ENJ price prediction is $0.667 to $2.888.
  • Enjin Coin (ENJ) price might also reach $4 soon.
  • Bearish ENJ  price prediction for 2022 is $0.391.

In Enjin Coin (ENJ) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about ENJ to analyze the future movement of the cryptocurrency. 

Enjin Coin (ENJ) Current Market Status

According to CoinGecko, the price of Enjin Coin (ENJ) is $0.622464 with a 24-hour trading volume of $78,437,138 at the time of writing. However, ENJ has increased by nearly 2.4% in the last 24 hours.

Moreover, Enjin Coin (ENJ) has a circulating supply of 934,340,659 ENJ. Enjin Coin (ENJ) trades in cryptocurrency exchanges such as Binance, FTX, FMFW.io, OKX, WhiteBIT, Upbit. 

What is Enjin Coin (ENJ)?

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

ENJ is used to buy, sell and trade NFTs in the Enjin ecosystem. Thus, these tokens serve primarily as utility tokens for backing NFTs. Users and developers can use Enjin (ENJ) to mint and create unique in-game NFTs. Along with ENJ, the Enjin ecosystem also has another token called Efinity token (EFI) which is the governance token of the native decentralized Enjin metaverse.

Enjin ecosystem enables users to utilize its native blockchain products to create unique NFTs for businesses and especially in the gaming industry.

Enjin Coin (ENJ) Price Prediction 2022

Enjin Coin (ENJ) holds the 86th position on CoinGecko right now. ENJ price prediction 2022 is explained below with a daily time frame.

ENJ/USDT Falling Wedge Pattern (Source: Tradingview)

The above chart of Enjin Coin (ENJ) laid out a Falling Wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal.  This pattern indicates a breakout in the price trend towards an upswing.

Currently, Enjin Coin (ENJ) is in the range of $0.605. If the pattern continues, the price of ENJ  might reach the resistance levels of $0.706, $1.163, $1.999 and $4.745. If the trend reverses, then the price of ENJ may fall to $0.470.

Enjin Coin (ENJ) Support and Resistance Levels

The chart below shows the support and resistance levels of Enjin Coin (ENJ).

ENJ/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Enjin Coin (ENJ).

Resistance Level 1$0.667
Resistance Level 2$0.976
Resistance Level 3$1.881
Resistance Level 4$2.888
Support Level $0.391
ENJ Resistance & Support Level

The charts show that Enjin Coin (ENJ)  has performed a bullish trend over the past month. If this trend continues, ENJ might run along with the bulls overtaking its resistance level at $2.888.

Accordingly, if the investors turn against the crypto, the price of Enjin Coin (ENJ)  might plummet to almost $0.391, a bearish signal.

Enjin Coin (ENJ) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Enjin Coin (ENJ) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of ENJ lies below the cutoff line, indicating weak participants in the current trend.

ENJ/USDT RVOL, MA, RSI (Source: TradingView)

Also, the Moving Average (MA) of Enjin Coin (ENJ) is shown in the chart above. Notably,  Enjin Coin (ENJ) price lies above 50 MA (short-term), so it is in an uptrend. Currently, ENJ has entered a bullish state. Therefore, there is a possibility of a reversal trend of ENJ at any time.

Meanwhile, the relative strength index (RSI) of the ENJ is 54.73. This means that Enjin Coin (ENJ) is in an overbought state. However, this means a major price reversal of ENJ may occur in the upcoming days. So, traders need to trade carefully. 

Enjin Coin (ENJ) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Enjin Coin (ENJ). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

ENJ/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Enjin Coin (ENJ). Currently, the ADX of ENJ lies in the range of 28.801 and thus, it indicates a strong  trend. 

The above chart also represents the Relative Volatility Index (RVI) of Enjin Coin (ENJ). RVI measures the constant deviation of price changes over a period of time. The RVI of ENJ lies below 50, indicating low volatility. In fact, the RSI of Enjin Coin (ENJ) is at 54.73 thus confirming a potential sell signal.

Comparison of ENJ  with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Enjin Coin (ENJ).

BTC Vs ETH Vs ENJ Price Comparison (Source: TradingView)

From the above chart, we can interpret that the price action of ENJ is similar to BTC and ETH . This indicates that when  the price of  BTC and ETH  increases or decreases, the price of ENJ also increases or decreases respectively.

Enjin Coin (ENJ) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Enjin Coin (ENJ) might probably attain $5 by 2023.

Enjin Coin (ENJ) Price Prediction 2024

With several upgrades in the network, Enjin Coin (ENJ) might enter a bullish trajectory. If the coin grabs the attention of major investors, ENJ might rally to hit $6 by 2024. 

Enjin Coin (ENJ) Price Prediction 2025

If Enjin Coin (ENJ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, ENJ would rally to hit $7.  

Enjin Coin (ENJ) Price Prediction 2026

If Enjin Coin (ENJ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, ENJ would rally to hit $8. 

Enjin Coin (ENJ) Price Prediction 2027

If Enjin Coin (ENJ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, ENJ would rally to hit $9. 

Enjin Coin (ENJ) Price Prediction 2028

If Enjin Coin (ENJ) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, ENJ would hit $10 in 2028.

Enjin Coin (ENJ) Price Prediction 2029

If investors flock in and continue to place their bets on Enjin Coin (ENJ), it would witness major spikes. ENJ might hit $11 by 2029.

Enjin Coin (ENJ) Price Prediction 2030

With greater advancements in the Enjin Coin Network ecosystem, the crypto community might continue to invest in ENJ for the next 8 years and drive significant price rallies for the token. Hence, Enjin Coin (ENJ) might hit $12 by 2030.

Conclusion

With continuous improvements in the Enjin network, we can say that 2022 is a good year for ENJ. For this reason, the bullish price prediction of Enjin Coin (ENJ) in 2022 is $2.888. On the other hand,  the bearish price prediction of Enjin Coin (ENJ) price prediction for 2022 is $0.391.

Furthermore, with the advancements and upgrades to the Enjin ecosystem, the performance of ENJ would help to reach above its current all-time high (ATH) of $4.82 very soon. But, it might also reach $4 if the investors believe that ENJ is a good investment in 2022.

FAQ

1. What is Enjin Coin (ENJ)?

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

2. Where can you purchase Enjin Coin (ENJ)?

Enjin Coin (ENJ) has been listed on many crypto exchanges which include Binance, FTX, FMFW.io, OKX, WhiteBIT, Upbit.

3. Will Enjin Coin (ENJ) reach a new ATH soon?

With the ongoing developments and upgrades within the Enjin Network platform, Enjin Coin (ENJ) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Enjin Coin (ENJ)?

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

5. Is Enjin Coin (ENJ) a good investment in 2022?

Enjin Coin (ENJ) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Enjin Coin Network in the past few months, ENJ  is considered a good investment in 2022.

6. Can Enjin Coin (ENJ) reach $4?

Enjin Coin (ENJ) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Enjin Coin (ENJ) will hit $4 soon.

7. What will be Enjin Coin (ENJ) price by 2023?

Enjin Coin (ENJ) price is expected to reach $5 by 2023.

8. What will be Enjin Coin (ENJ) price by 2024?

Enjin Coin (ENJ) price is expected to reach $6 by 2024.

9. What will be Enjin Coin (ENJ) price by 2025?

Enjin Coin (ENJ) price is expected to reach $7by 2025.

10. What will be Enjin Coin (ENJ) price by 2026?

Enjin Coin (ENJ) price is expected to reach $8 by 2026.

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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