Are you an active investor? If yes, then you
must have come across the Enjin Coin as well. This coin
has been performing consistently well for months, but now its stability is a matter
of question! Why? Well, due to the very nature of the crypto
market and recently failed breakout, the future of
Enjin Coin Investors is in a dilemma now! However, you don't need to worry because we
have covered you with the latest coin verdict after
the breakout. Hello everyone, and welcome back to Daily
CryptoFacts. You get to go place to find out everything
about cryptocurrency. Today's video will talk about the amount of Enjin coin you need to
become rich. Sounds good, right? So, sit back and
stay with us till the end to know how investment in Enjin
coin looks like in the upcoming months and years.
Also, we're giving away 25 Dollars by the end of next month to our one random subscriber
to start them on their crypto journey. To enter, all
you need to do is: like the video, subscribe, and comment
on your favorite crypto coin in the comment section down below. So, without further ado,
let's dive into the topic.
The Enjin Coin price rally has reversed hard in the last 24-hours.
But does it spell Enjin
trouble, or will the ENJ soon resume its march higher?
Enjin Coin (ENJ) is an Ethereum token that aims to "make it easy for individuals, businesses,
and brands to use non-fungible tokens (NFTs)."
ENJ is used to directly back the value of NFTs minted
within the Enjin ecosystem. The Enjin platform is one of the most interesting NFT projects
out there. According to Kriptomat, the Enjin project
was created as a complete ecosystem that offers a
wide range of products to developers who want to use the platform to develop their projects.
The Enjin network can be used to create, distribute, store, and trade tokenized digital assets.
There are already many games and business-focused
projects on the Enjin platform. Enjin users can use
the platform to create Enjin Coin-backed digital assets – tokens or NFTs and use them on their
platforms, in the form of NFT artworks, cryptocurrencies, or even as a digital currency for video
games. An Enjin client has started using the Enjin platform to tokenize commercial real
NFT real estate has become an emerging field in the crypto sphere. Investors who want to
buy Enjin Coin can do so by purchasing it from crypto
In India, users can find Enjin on various
crypto exchanges such as Coinswitch, WazirX, etc.
Right now, Enjin Coin (ENJ) is trading at $1.2543, down 2.50% this morning and almost
30% below yesterday's $1.5903 high.
The cryptocurrency market made great strides on the upside yesterday after a report released
over the weekend appeared to confirm retail giant
Amazon would soon accept crypto payments. The news sent many digital assets higher,
and for a moment, Bitcoin looked sure to reclaim the
elusive $40,000 threshold.
Unfortunately, the online marketplace behemoth
has since outright denied the claims made by
financial newspaper City AM. Consequently, BTC has dropped considerably
and dragged much of the market lower with it. As a
result, ENJ has reversed yesterday's positive technical advances. Furthermore, if weakness
persists in the broader market, the Enjin Coin price
could head back towards $1.0000. The daily chart shows ENJ has been trading
within the confines of a long-term narrowing triangle
The lower supportive trend is seen at $0.9450 and was the catalyst for the 73%
bounce from the 20th of July low at $0.9962. Therefore,
I would consider this a significant support level. Conversely, a descending trend from April
currently caps the price at $1.4250. Furthermore, the
200-day moving average at $1.4657 and the 100-day average at $1.5935 reinforce the robust
resistance above the price. Last month, ENJ was finding support at the
50 DMA at $1.2046. However, a failure to maintain this
level could lower the price to the significant support at $0.9450. However, if the price
manages to advance beyond $1.5937, the bulls will be
back in the driving seat. And in this event, an achievable
upside target becomes the 26th of May high at $2.1626.
The Enjin Coin price is at its lowest this month, having just broken below $0.10000.
However, ENJ may benefit from the platform's latest ethical
alliance. Enjin Coin is trading at $0.9750, lower by
$0.098 (-9.12%). Late last month, Enjin revealed its eco-friendly
JumpNet blockchain had achieved carbon-negativity via purchasing carbon credits through Australian
climate change firm Beyond Neutral. Additionally, on the 9th of this month, Enjin joined the
Crypto Climate accord, further enhancing its commitment
to the environment. Furthermore, today' Enjin has revealed it has become the first non-fungible
token (NFT) platform accepted into the United Nations Global Compact at the highest participant
Of note, the daily chart shows the Enjin Coin
price has retraced its bullish breakout from a
long-term pennant formation earlier this month. Furthermore, ENJ is on course to retreat below
the descending top-end of the channel at $0.9550.
In this event, ENJ should target the horizontal support at $0.7200, which marks the formation's
lower end. Additionally, ENJ is below the 50, 100, and 200-day moving averages. Moreover,
the 50 DMA at 1.2417 has crossed below the longer-term
100, and 200-day indicators. The outlook for the broader market remains
unclear, and despite today's announcement, ENJ could
suffer in the near term if crypto sentiment sours further. And on that basis, I expect
$0.7200 to be tested soon. Moreover, a close below $0.7200
would likely lead to an even lower valuation in the
days/weeks ahead. However, today's news will undoubtedly broaden
Ejin's appeal. And when confidence returns to the
cryptocurrency space, ENJ should offer an attractive opportunity. Crypto price predictions can be difficult
as nobody can accurately predict the crypto markets. At the
time of writing this article, the price of Enjin Coin stands at $1.62 as per WazirX charts.
Fortunately, many crypto experts have given predictions
for Enjin Coin.
As per Digital Coin Price, Enjin Coin
could go up to $2.7 by the end of the year and around $5.54 by the end of 2025. Wallet
Investor also predicts that Enjin could reach $2.7 at the
end of 2021 and up to $9.87 after five years. Crypto
Ground predicts that Enjin could reach up to $4.26 in 5 years. However, crypto price
predictions should be taken with a grain of salt.
The Enjin Coin trading price is currently around $ 1.46 with a market capitalization
of $ 1,228,044,436 with a circulating supply of
ENJ 834,331,121 now and a 24-hour trading volume of $
147,230,304 on the crypt market. From the beginning of this year, the Enjin
coin meant a massive rally until April, but almost all
cryptocurrencies then faced the market's collapse. However, the ENJ coin has lost momentum and
is currently trading at around $ 1.4. According
to the current prediction of the price of ATH and Enjin
coins until 2021, its future values could remain above the critical level of resistance
of $ 2. The cryptocurrency price forecasts of various
experts will not discourage Enjin Coins from beating
its opponents in any way.
Nevertheless, the Enjin community has set higher standards.
Enjin Coin will exceed the expectations of all investors
in the cryptocurrency. Another essential start of the
Enjin token exchange is about to be discovered soon, supported by many exchanges.
Based on our Enjin Coin 2021 price forecast, ENJ coins have drastically strengthened the
sentiment phenomenon in the market. Traders and investors
have long been betting on the movement of Enjin
Coin, who is following him very closely. Therefore, the Enjin Coin price forecast for the whole
of this year remains relatively encouraging, stating
that it could jump to about $ 2 in September and be
close to $ 2.5 by December. We are keeping pace with the same upward trend,
and there are predictions that Enjin Coin is ready
to rise next year, i.e., 2022. Price Forecast After 2025
With any changes in government. Thanks to principles and regulations, the Enjin platform
can also play its part in foggy days. The price of
Enjin Coin can easily drop to $ 20,021 or drop to a maximum
of $ 18,905, so it won't drop but will be consistent.
So, this is all for the video. What are your views about Enjin and its future? Let us know
in the comment section below.
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