Enjin at $2.00 – Ride the Wave now? Enjin Price Prediction and Technical Analysis for the ENJ Crypto

– Hi, let's talk about crypto gaming. We are looking at Enjin Coin symbol ENJ currently at $1.93, market rank 70 with a market cap of
approximately 1.7 billion. Now we will not go into the fundamentals of the project at all, but what we will do is we
will look at the charts and we will compare Enjin
Coin to other gaming cryptos, for example, Axie
Infinity, and Decentraland. How has Enjin Coin's relative
performance to those two competing projects with
higher market caps? And so what we will do
is we will not just look at the Enjin Coin U.S Dollar chart, obviously we will also look at
Enjin Coin valued in Bitcoin, and something that I
personally like to do is looking at the Altcoin price in Ethereum, that's this chart over here. So that's Enjin Coin's price
divided by the Ethereum price. And so when we look at Axie Infinity, that's this chart over here, right? Where we got this
incredible rally recently, I don't know how many
X rally that is, 367X. We will compare this chart now with Enjin.

So this is now the Enjin Coin
price divided by a competitor by Axie Infinity, by Enjin
Coin measured in Axie Infinity, so you can see Enjin
Coin is underperforming, and then we'll also look at MANA, right? Decentraland, the second
place in the gaming space, that's the MANA U.S Dollar chart, and this is the Enjin Coin
price divided by the MANA price. So quite a few interesting
things to look at. So first of all, the
U.S dollar chart, right? This is quite interesting. We did see a big pump during
the very first Altcoin rally. This was the ICO boom and
then when the crash happened, the crypto winter happened in 2018, we went down more than 95% in Enjin Coin.

And this is relatively
typical for Altcoins here. Let's look again at the
longterm Bitcoin chart. This was the first really mass
stream bubble where Bitcoin got a lot of media attention,
it burst at the end of 2017 and then we got the
crash in Bitcoin, right? In Bitcoin, we lost more than 80%, and there was a relatively modest crash because even projects such
as Cardano that are now hyped to almost hit $3, even those
projects, they lost 97% in this bear market. So it's really not nice
to be in any Altcoin during a bear market. You're gonna lose basically
all of your money, 95% loss, that's basically
everything right. But then on the other hand, when we come out of such a
large crash, this is again Enjin Coin, if you come
out of it and then you buy during the largest depression, that's where you get the big gains, right? The 87X gains that we
now saw in Enjin Coin.

Now let's look at Enjin
Coin valued in Bitcoin. It's interesting that there
seems to be some kind of trading range here, right? We seem to have some kind of floor. We seem to have some kind
of resistance levels. And Enjin Coin is kind
of moving back and forth between these levels. Currently we are at the
higher end of the spectrum. We can also see that since
the beginning of the year, Enjin coin outperformed quite a bit – a 9X and that's because all Altcoins, they started to pump since
the beginning of the year. Bitcoin dominance, it started to fall since the beginning of the year, more than 70% of crypto was in Bitcoin at the beginning of the year. Now only 44% of crypto is Bitcoin. So the Altcoins, they gained ground since the beginning of the year, and Enjin Coin is no exception, Enjin Coin outperformed Bitcoin massively and that's very positive, right? You take on more risk
with a smaller Altcoin such as Enjin Coin and
so you do get compensated when times are good. Now let's look at Enjin Coin to Ethereum.

And I think that's actually
the real chart to look at because what's the common
way to do things in crypto is you buy your stack of Bitcoin, right? Your long-term holdings, your dollar cost average into the market. You just hold Bitcoin as a diversifier to say you're stock holdings
to your property maybe, to kind of cancel out the volatilities between the assets, right? So you buy and hold
Bitcoin for the longterm. Now, Ethereum is traded more actively. There are a lot more transactions on the Ethereum blockchain. And so you've got more
speculative money within Ethereum. And so Ethereum and Altcoins,
they are used more actively, and if you move from
Ethereum to an altcoin, you expect outperformance
versus Ethereum, right? Otherwise you could simply
stick to the safe Ethereum, but you go further up the risk curve in order to outperform Ethereum, and so if you measure now the
outperformance to Ethereum since the beginning of the year, we still see quite a nice run, 350%. If you look at the longer
term outperformance, we are looking at 900% roughly. And so you could argue as well that this is a trading range somewhat, but you could also argue
that we are in a long-term outperforming trend, obviously
with a lot of volatility.

So timing this does make a lot of sense. You don't want to be
in for like a 70% drop or for even a 90% drop versus Ethereum. So these charts, they do
matter, and currently, we are probably not that
cheap versus Ethereum, right? I'm not saying that we will
come back down to those levels, but a drop versus Ethereum
of like 30% or so, wouldn't be out of the regular
movements at all, right? These are the kinds of movements
that we see all the time in relative performance between Altcoins. So just be aware of this, if
you're getting in right now, you might not be buying
at the very perfect time, but you're also obviously
not buying at the top.

Now Axie Infinity is where all the hype is currently happening, right? And that's obviously because
there's a lot of players, mainly from the Philippines
that earn their money with the game, and so
adoption is increasing. The price is exploding. And so when you compare
this now to Enjin Coin, so the Enjin Coin
divided by Axie Infinity, there's obviously not
a lot of chance, right? If you look at any Altcoin
divided by Axie Infinity, you'll probably see this
kind of drop everywhere, simply because the
outperformance of Axie Infinity is so dramatic.

So if you just look at
this relatively speaking, Enjin Coin lost against
Axie Infinity by 97%, but that's not something that
is Enjin Coin related really, but still we have to compare
those two because Axie Infinity is larger in market cap. It's almost three times
as large as Enjin Coin, but it's also interesting
when you just look at the circulating supply, Enjin Coin is probably not
going to inflate as much as Axie Infinity in the future. So who knows if this outperformance
is really going to last, you have to look at more than just charts in order to make such a judgment call.

You got to look at the projects themselves and figure out how adoption
will influence the prices. Now, MANA went also upright. All of crypto gaming is
currently doing quite well. The U.S Dollar chart,
since the beginning here, November 2017, went up by 62X. And now let's look at Enjin versus MANA and here we've got something that is way more comparable, right? This looks pretty straight forward. But again, the trading
ranges, they are large, 150% potential gain, 80% potential losses. And we are not particularly
cheap on Enjin Coin right now, we're slightly above the
middle of that trading range. So you can also plot this chart the exact other way around, right? This is now the MANA price
divided by the Enjin price. So how expensive is MANA? And if you look at this, this looks quite interesting, right? The market caps are very
close to each other, but it should just look at
historical price movements, MANA seems to have more
upside potential, right? And what I also like about this
chart is that these ranges, they seem to be relatively stable.

So it's not like MANA was underperforming
Enjin Coin consistently. It's really that there's
just a lot of volatility, a lot of trading happening. And so if I was to decide now
between MANA and Enjin Coin, simply based on the charts, I would probably rather go with MANA because the risks, they
seem to be similar, but the relative valuation now seems to slightly favor Decentraland. So take it for what it is, right? Nobody knows if these kinds of patterns they are sustainable, but since we are not
discussing the fundamentals of any project on this channel, we are only looking at
numbers, at data, at charts. This is what we can see,
and so if you are deciding, should you rather buy this, that this will continue to go up, or would you rather buy
this, that this would go up. I kind of prefer this chart. There seems to be a little bit
better in risk versus reward, then when you look at Enjin
Coin in risk versus reward. If you enjoyed this video, please give this a like,
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