Enjin Coin Price Prediction – Will ENJ Price Hit $10 Soon?

This Enjin Coin Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with our ENJ price analysis and prediction.

Nowadays, people are showing huge interest in cryptocurrency. In fact, there are many cryptos that surged to a new all-time during this 2021 bull run. In contrast, some crypto also had a downtrend. Consequently, many traders and investors are confused about whether it is time to sell or hold out for a good price. For Enjin, the former may be the case. In fact, Enjin’s price reached a high of $4 in April.

Nevertheless, the crypto market is moving sideways lately, and most cryptos are losing their previous profits. Is the scenario the same with Enjin price? We’ll find out shortly in this Enjin price prediction 2021 article. But first, let’s have a look at what Enjin is.

What is an Enjin Coin (ENJ)?

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 have an idea about Enjin, do you think ENJ will be profitable crypto in 2021? Or, are you curious to find out? Join me and let us see the charts in this Enjin price analysis and ENJ price prediction.

Enjin Coin (ENJ) Current Market Status

According to CoinMarketCap, the ENJ price is at $2.97 with a 24-hour trading volume of $470,633,490, at the time of writing. ENJ can be found on crypto exchanges such as Binance, Mandala Exchange, OKEx, FTX, and Huobi Global. ENJ is one of the most active and most talked about digital assets in the crypto world. ENJ trades with a 12-month growth rate of +2,300%. Truly, this is a performance that should not be overlooked in the crypto world.

If this performance keeps going, ENJ might level up its crypto ranking closer to the top 70 cryptos. Indeed, this is possible if the bullish market remains with the crypto throughout the year. If it does, the market capitalization of the crypto may reach the bullish amount of $2,467,650,855. Truly, an amount favored by investors and traders around the world.

Enjin Coin (ENJ) Price Analysis 2021

Currently, Enjin holds 68th place on CoinMarketCap. But will the recent changes and development in the blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this ENJ price prediction article.

As shown above, at the beginning of this, ENJ turned from its bear-to-bull trend. This shows a high trade volume occurred in that period. Moreover, in the daily time frame, ENJ showed an Ascending Scallop pattern.

Normally, this pattern is followed by an uptrend position but in some cases, the pattern can change and move into a downtrend position. More so, in this chart above the pattern took a month for the formation to take place.

The Relative Strength Index (RSI) is at 59.43, which means that ENJ is neither oversold nor overbought. However, this may trigger a price reversal at any given time. Therefore, traders must trade smartly and must not be affected by the market hype. With this in mind, traders can be cautious and stay away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA).

Since the start of 2021, ENJ’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations and corrections right away. Taking this into consideration, ENJ has a competitive market this 2021.

Enjin Coin (ENJ) Price Prediction 2021

The chart below shows that Enjin has performed great over the past few days. If this trend continues, ENJ might run along with the bulls, overtaking its $5.34 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone ENJ from its uptrend position. In simpler terms, the price of ENJ might plummet to almost $2.6, a bearish signal.

Meanwhile, our long-term ENJ price prediction 2021 is bullish. Notably, it is not much possible to surpass its current all-time-high (ATH) at about $4 this year. Moreover, ENJ can reach new highs only if it breaks many previous psychological resistances.

Enjin Coin (ENJ) Price Prediction 2022

If this bullish trend continues, ENJ will reach $15 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $20. Then this rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $15 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Enjin Coin (ENJ) Price Prediction 2023

The price of ENJ can move even great heights, however reaching $30. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency ENJ breaks past the psychological resistance level.

Enjin Coin (ENJ) Price Prediction 2024

As per the latest upgrades, developments, ENJ price prediction, and new project forecasts of the platform. Moreover, this might boost the price of ENJ in the crypto market, and it will be the best investment as the price can spike and reach around $50.

Enjin Coin (ENJ) Price Prediction 2025

In the next four years, ENJ prices could race up to $80. However, reaching this level could not be so difficult for ENJ as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that ENJ has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

ENJ has a bright future ahead of it in 2021. With ongoing developments happening within the ENJ ecosystem, as well as in the overall crypto market, we may see ENJ reach new heights.

Meanwhile, our long-term ENJ price prediction 2021 is bullish. It has a high possibility of surpassing its current ATH at about $4 this year. However, that will only happen if it breaks past a number of psychological resistances.

Bullish ENJ price prediction 2021 is $5.34. As said above, it may even reach $10 if investors have decided that ENJ is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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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.

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