- Bullish ENJ price prediction for 2023 is $0.3310 to $0.4673.
- Enjin Coin (ENJ) price might reach $3 soon.
- Bearish ENJ price prediction for 2023 is $0.1748.
In this Enjin Coin (ENJ) price prediction 2023, 2024-2030, we will analyze the price patterns of ENJ by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS
ENJIN COIN (ENJ) PRICE PREDICTION 2023
|ENJIN COIN (ENJ) PRICE PREDICTION 2024, 2025, 2026-2030|
Enjin Coin (ENJ) Current Market Status
|Current Price||$0.2324||24 – Hour Price Change||1.74% Up|
|24 – Hour Trading Volume||$28,790,386|
|Circulating Supply||1,000,000,000 ENJ||All – Time High||$4.85 (On Nov 25, 2021)|
|All – Time Low||$0.01562 (On Nov 03, 2017)|
What is Enjin Coin (ENJ)
|LAUNCHED ON||June 2018|
|UTILITIES||Governance, Fast Transactions, gas fees & rewards|
Enjin Coin (ENJ) is an ERC-20 token native to the Enjin platform, a gaming community platform. 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, especially in the gaming industry.
Enjin Coin 24H Technicals
Enjin Coin (ENJ) Price Prediction 2023
Enjin Coin (ENJ) ranks 113rd on CoinMarketCap in terms of its market capitalization. The overview of the Enjin Coin price prediction for 2023 is explained below with a daily time frame.
ENJ/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Aptos (APT) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Enjin Coin (ENJ) was recorded at $0.2324. If the pattern trend continues, then the price of ENJ might reach the resistance levels of $0.32814, $0.3312, $0.4690, and $0.5720. If the trend reverses, then the price of ENJ may fall to the support of $0.2181.
Enjin Coin (ENJ) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Enjin Coin (ENJ) in 2023.
ENJ/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Enjin Coin (ENJ) for 2023.
|Resistance Level 1||$0.3310|
|Resistance Level 2||$0.4673|
|Support Level 1||$0.2303|
|Support Level 2||$0.1748|
ENJ Resistance & Support Levels
Enjin Coin (ENJ) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (ENJ) are shown in the chart below.
ENJ/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Enjin Coin (ENJ) market in 2023.
|50-Day Moving Average (50MA)||Nature of the current trend by comparing the average price over 50 days||50 MA = $0.2550Price = $0.2307|
|Relative Strength Index (RSI)||Magnitude of price change;Analyzing oversold & overbought conditions||44.03|
<30 = Oversold
50-70 = Neutral>70 = Overbought
|Relative Volume (RVOL)||Asset’s trading volume in relation to its recent average volumes||Below cutoff line||Weak volume|
Enjin Coin (ENJ) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Enjin Coin (ENJ) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
ENJ/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Enjin Coin (ENJ).
|Average Directional Index (ADX)||Strength of the trend momentum||11.4232||Weak Trend|
|Relative Volatility Index (RVI)||Volatility over a specific period||49.36|
<50 = Low
>50 = High
Comparison of ENJ with BTC, ETH
Let us now compare the price movements of Enjin Coin (ENJ) with that of Bitcoin (BTC), and Ethereum (ETH).
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 that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ENJ also increases or decreases respectively.
Enjin Coin (ENJ) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Enjin Coin (ENJ) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
|Year||Bullish Price||Bearish Price|
|Enjin Coin (ENJ) Price Prediction 2024||$5||$2|
|Enjin Coin (ENJ) Price Prediction 2025||$7||$1|
|Enjin Coin (ENJ) Price Prediction 2026||$9||$0.8|
|Enjin Coin (ENJ) Price Prediction 2027||$11||$0.6|
|Enjin Coin (ENJ) Price Prediction 2028||$13||$0.4|
|Enjin Coin (ENJ) Price Prediction 2029||$15||$0.2|
|Enjin Coin (ENJ) Price Prediction 2030||$20||$0.1|
If Enjin Coin (ENJ) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Enjin Coin (ENJ) price prediction for 2023 is $0.4673. Comparatively, if unfavorable sentiment is triggered, the bearish Enjin Coin (ENJ) price prediction for 2023 is $0.1748.
If the market momentum and investors’ sentiment positively elevates, then Enjin Coin (ENJ) might hit $3. Furthermore, with future upgrades and advancements in the Enjin Coin ecosystem, ENJ might surpass its current all-time high (ATH) of $4.85. and mark its new ATH.
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, OKX, WEEX, Deepcoin, and Bybit.
3. Will Enjin Coin (ENJ) reach a new ATH soon?
With the ongoing developments and upgrades within the Enjin platform, 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 2023?
Enjin Coin (ENJ) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Enjin in the past few months, ENJ is considered a good investment in 2023.
6. Can Enjin Coin (ENJ) reach $3?
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 $3 soon.
7. What will be Enjin Coin (ENJ) price by 2024?
Enjin Coin (ENJ) price is expected to reach $5 by 2024.
8. What will be Enjin Coin (ENJ) price by 2025?
Enjin Coin (ENJ) price is expected to reach $7 by 2025.
9. What will be Enjin Coin (ENJ) price by 2026?
Enjin Coin (ENJ) price is expected to reach $9 by 2026.
10. What will be Enjin Coin (ENJ) price by 2026?
Enjin Coin (ENJ) price is expected to reach $11 by 2026.
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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.