Enjin Coin (ENJ) Price Prediction 2023 Will ENJ Hit $2 Soon?
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- Bullish ENJ value prediction is $0.3993 to $1.2673.
- Enjin Coin (ENJ) value may additionally attain $2 quickly.
- Bearish ENJ value prediction for 2023 is $0.2391.
In Enjin Coin (ENJ) value prediction 2023, we use statistics, value patterns, RSI, RVOL, and different details about ENJ to research the long run motion of the cryptocurrency.
Enjin Coin (ENJ) Present Market Standing
| Present Value | $0.419869 |
| 24 – Hour Buying and selling Quantity | $169,204,043 |
| 24 – Hour Value Change | 91% down |
| Circulating Provide | 1,000,000,000 |
| All – Time Excessive | $4.82 (On November 25, 2021) |
(supply: CoinGecko)
What’s Enjin Coin (ENJ)?
Enjin Coin (ENJ) is an ERC-20 token native to the Enjin platform, a gaming neighborhood platform. It was launched in 2017 on the Ethereum blockchain. The transactions of ENJ are secured within the community by the proof-of-work (PoW) mechanism.
ENJ is used to purchase, promote and commerce NFTs within the Enjin ecosystem. Thus, these tokens serve primarily as utility tokens for backing NFTs. Customers and builders can use Enjin (ENJ) to mint and create distinctive in-game NFTs. Together with ENJ, the Enjin ecosystem additionally has one other token referred to as Efinity token (EFI) which is the governance token of the native decentralized Enjin metaverse.
Enjin ecosystem allows customers to make the most of its native blockchain merchandise to create distinctive NFTs for companies and particularly within the gaming business.
Enjin Coin (ENJ) Value Prediction 2023
Enjin Coin (ENJ) holds the 91st place on CoinGecko proper now. ENJ value prediction 2023 is defined beneath with a each day time-frame.
The above chart of Enjin Coin (ENJ) laid out a descending channel sample. Descending channel also called the falling channel. A descending channel is shaped by two parallel trendlines. The higher trendline, which joins the highs, and the decrease trendline, which joins the lows, run parallelly downwards. This sample is the attribute of a bearish market.
Presently, Enjin Coin (ENJ) is within the vary of $0.4125. If the sample continues, the worth of ENJ would possibly attain the resistance ranges of $0.3697, $1.163, $0.5027 and $0.7520. If the pattern reverses, then the worth of ENJ could fall to $0.2329.
Enjin Coin (ENJ) Assist and Resistance Ranges
The chart beneath reveals the help and resistance ranges of Enjin Coin (ENJ).
From the above each day time-frame, we are able to clearly interpret the next because the resistance and help ranges for Enjin Coin (ENJ).
| Resistance Degree 1 | $0.3993 |
| Resistance Degree 2 | $0.7564 |
| Resistance Degree 3 | $1.2673 |
| Assist Degree | $0.2391 |
The charts present that Enjin Coin (ENJ) has carried out a bullish pattern over the previous month. If this pattern continues, ENJ would possibly run together with the bulls overtaking its resistance degree at $1.2673.
Accordingly, if the traders flip towards the crypto, the worth of Enjin Coin (ENJ) would possibly plummet to nearly $0.2391, a bearish sign.
Enjin Coin (ENJ) Value Prediction 2023 — RVOL, MA, and RSI
The Relative Quantity (RVOL) of Enjin Coin (ENJ) is proven within the chart beneath. It’s an indicator of how the present buying and selling quantity has modified over a time period from the earlier buying and selling quantity. Presently, the RVOL of ENJ lies beneath the cutoff line, indicating weak contributors within the present pattern.
Additionally, the Shifting Common (MA) of Enjin Coin (ENJ) is proven within the chart above. Notably, Enjin Coin (ENJ) value lies above 50 MA (short-term), so it’s in an uptrend. Presently, ENJ is in bearish state. Due to this fact, there’s a chance of a reversal pattern of ENJ at any time.
In the meantime, the relative power index (RSI) of the ENJ is 77.74. Which means that Enjin Coin (ENJ) is in an overbought state. Nonetheless, this implies a serious value reversal of ENJ could happen within the upcoming days. So, merchants have to commerce fastidiously.
Enjin Coin (ENJ) Value Prediction 2023 — ADX, RVI
Allow us to now take a look at the Common Directional Index (ADX) of Enjin Coin (ENJ). It helps to measure the general power of the pattern. The indicator is the common of the increasing value vary values. This method makes an attempt to measure the power of value motion within the optimistic and unfavorable instructions utilizing DMI indicators with ADX.
The above chart represents the ADX of Enjin Coin (ENJ). Presently, the ADX of ENJ lies within the vary of 46.5838 and thus, it signifies a robust pattern.
The above chart additionally represents the Relative Volatility Index (RVI) of Enjin Coin (ENJ). RVI measures the fixed deviation of value modifications over a time period. The RVI of ENJ lies above 50, indicating excessive volatility. In actual fact, the RSI of Enjin Coin (ENJ) is at 77.74 thus confirming a possible purchase sign.
Comparability of ENJ with BTC, ETH
The beneath chart reveals the worth comparability between Bitcoin (BTC), Ethereum (ETH), and Enjin Coin (ENJ).
From the above chart, we are able to interpret that the worth motion of ENJ is just like BTC and ETH . This means that when the worth of BTC and ETH will increase or decreases, the worth of ENJ additionally will increase or decreases respectively.
Enjin Coin (ENJ) Value Prediction 2024-2030
Quite a few components are taken into consideration when forecasting costs together with quantity modifications, value variations, market cycles, and comparable cash. Let’s predict the worth of Enjin Coin (ENJ) between 2024 and 2030.
Enjin Coin (ENJ) Value Prediction 2024
With a number of upgrades within the community, Enjin Coin (ENJ) would possibly enter a bulli
Enjin Coin (ENJ) Price Prediction 2023 Will ENJ Hit $2 Soon?
Enjin Coin (ENJ) is a cryptocurrency created on the Ethereum blockchain by Enjin, a gaming platform that provides gamers, developers, and content creators with an array of tools they can use to build and distribute their games, as well as monetize their content. While the platform has only been around for a few years, Enjin Coin has been gaining traction in the crypto-sphere. As of now, ENJ’s price is under $1 and due to its wide usage among the gaming communities, investors and crypto enthusiast are trying to find out if ENJ will hit $2 soon.
What Can Affect Enjin Coin Price?
Various factors will affect active ENJ prices as the value of any digital asset is based on the collective market forecasting its future value. The price predictions for Enjin Coin often vary a lot, given the volatility of the cryptocurrency market. Here are some of the most important factors which could influence ENJ price predictions in 2023:
• Community Involvement: As the gaming community is essential for ENJ’s success, public perception and user involvement play an important role.
• Industry Developments: As ENJ is used in numerous gaming projects, the industry developments related to them will also decide ENJ’s fate.
• Macroeconomic Factors: As with any other asset class, global market conditions and changes in governments will influence ENJ prices.
Frequently Asked Questions on “Enjin Coin (ENJ) Price Prediction 2023 Will ENJ Hit $2 Soon?”
Q1. What is Enjin Coin (ENJ)?
A1. Enjin Coin (ENJ) is a cryptocurrency created on the Ethereum blockchain by Enjin, a gaming platform that provides gamers, developers, and content creators with an array of tools they can use to build and distribute their games as well as monetize their content.
Q2. What Factors Can Affect Enjin Coin Price?
A2. Various factors will affect active ENJ prices, as the value of any digital asset is based on the collective market forecasting its future value. The most influential factors on ENJ prices are community involvement, industry developments and macroeconomic factors.
Q3. What are the Current Price Predictions For Enjin Coin?
A3. As of now, the price of ENJ is under $1, however, experts are predicting that it could potentially reach as high as $2 or $3 in 2023.
Q4. What is the Long Term Price Outlook For Enjin Coin?
A4. Many experts are optimistic about the long term price of Enjin Coin, as the platform is rapidly gaining traction among the gaming communities and there are more and more projects being built on the Enjin platform.
Summary
Enjin Coin (ENJ) is a cryptocurrency created on the Ethereum blockchain by Enjin, a gaming platform that provides gamers, developers, and content creators with an array of tools. Currently, the price of ENJ is under $1, and many investors and crypto enthusiasts are curious about whether ENJ will hit $2 soon. Factors such as community involvement, industry developments and macroeconomic factors all affect ENJ prices, and according to current predictions, ENJ could reach $2 or $3 in 2023. Many experts are optimistic about the long term price of Enjin Coin, as the platform is rapidly gaining traction among the gaming communities and more projects are being built on the Enjin platform.
