Enjin Coin Price Forecast 2022 – Will ENJ Reach $5 Soon?

ENJUSDT

Bullish ENJ price forecast is $2,117 to $4,821. The ENJ price will also reach $5 soon. ENJ bearish market price forecast for 2022 is $1,069.

In Enjin Coin (ENJ) 2022 price forecast, we use statistics, price patterns, RSI, RVOL and many other information about ENJ to analyze the future movement of the cryptocurrency.

Enjin Coin Current Market Status

According to CoinGecko, the price of ENJ is $1.86 with a 24-hour trading volume of $263,124,245 at the time of writing. However, ENJ is up nearly 5.5% in the past 24 hours.

In addition, ENJ has a circulating supply of 934,340,659 ENJ. Currently, ENJ trades cryptocurrency exchanges such as Binance, OKX, Bybit, FTX, and CoinTiger.

What is Enjin Coin (ENJ)?

Enjin Coin (ENJ) is an Ethereum token designed to “make it easy for individuals, businesses and brands to use non-fungible tokens (NFTs).” ENJ is a cryptocurrency used to directly support the value of NFTs issued within the Enjin ecosystem.

In 2009, Enjin launched the Enjin Network, a gaming community platform with over 20 million users. After a successful $18.9 million ICO in 2017, Enjin started developing a range of blockchain products that allow anyone to easily manage, explore, distribute and integrate blockchain. assets.

Enjin Coin (ENJ) Price Forecast 2022

Enjin Coin currently holds 79th position on CoinGecko. ENJ price forecast 2022 is explained below with a daily time frame.

ENJ/USDT bearish channel pattern (Source: Tradingview)

A bearish channel is a chart pattern formed by two downtrend lines drawn above and below a price that represents resistance and support levels. The descending channel pattern is also referred to as a descending channel or channel down. The top line is identified first, follows the highs and is called the trendline.

The bottom line is identified as parallel to the trendline, which crosses the bottom. It is a bearish chart pattern defined by a trendline supporting the series of lower lows and a diagonal resistance level connecting the lower highs.

Currently, ENJ is in the $1.87 range. If the pattern continues, the price of ENJ may reach the $3,341 and $4,589 resistance levels. If the trend reverses, the price of ENJ could fall as low as $1,346.

Enjin Coin (ENJ) Support and Resistance Level

The chart below shows the support and resistance level of ENJ.

ENJ/USDT support and resistance level (Source: TradingView)

From the above daily time frame, it is clear that the following resistance and support levels are from ENJ.

Resistance Level 1 – $2,117Resistance Level 2 – $2,922Resistance Level 3 – $3,630Resistance Level 4 – $4,821Support Level 1 – $1,425Support Level 2 – $1,069

The charts show that ENJ has been on a bullish trend for the past month. If this trend continues, ENJ could follow the bulls overtaking its resistance level at USD 4,821.

Accordingly, if the investors turn against the crypto, the price of the ENJ could drop to close to $1,069, a bearish signal.

Enjin Coin Price Forecast 2022 – RVOL, MA and RSI

The relative volume (RVOL) of ENJ is shown in the graph below. It is an indicator of how the current trading volume has changed over time from the previous volume for traders. Currently, ENJ’s RVOL is below the boundary line, indicating weaker participants in the current trend.

In fact, the moving average (MA) of the ENJ is shown in the chart above. Currently, ENJ is in a bullish state. In particular, the ENJ price is above 50 MA (short term), so fully on an upward trend. Therefore, there is a possibility of a reversal trend of ENJ at any time.

Meanwhile, the ENJ’s relative strength index (RSI) is at the 67.70 level. This means that ENJ is in a near overbought state. However, this means that there could be a major price reversal of ENJ in the coming days. So traders should act with caution.

Enjin Coin Price Forecast 2022 – ADX, RVI

Now let’s take a look at Enjin Coin’s Average Directional Index (ADX). It helps to gauge the overall strength of the trend. The indicator is the average of the growing price range values. This system attempts to measure the strength of price movements in positive and negative directions using DMI indicators with ADX.

The chart above represents the ADX of Enjin Coin. Currently, ENJ is in the range of 29.60, so it indicates a strong trend.

The chart above shows the relative volatility index (RVI) of ENJ. RVI measures the constant deviation of price changes over a period of time rather than price changes. ENJ’s RVI is above 50 levels, indicating that the direction of volatility is high. In fact, ENJ’s RSI is at the 67.70 level, confirming a potentially high signal.

Comparison of ENJ to BTC, ETH

The chart below shows the price comparison between Bitcoin, Ethereum and Enjin Coin.

BTC vs ETH vs ENJ Price Comparison (Source: TradingView)

From the chart above, we can see that the trend of BTC is moving in an uptrend. But the recent trend of ETH and ENJ is moving in a downward direction.

Conclusion

With continuous improvements in the Enjin Coin network, we can say that 2022 is a good year for ENJ. For this reason, Enjin Coin’s bullish price forecast is $4,821 in 2022. On the downside, the bearish ENJ price forecast for 2022 is $1,069.

In addition, with the advancements and upgrades of the ENJ ecosystem, ENJ’s performance would help it rise above the current all-time high (ATH) $3.6 very soon. But it can also reach $5 if the investors believe that ENJ is a good investment in 2022.

FAQ

1. What is Enjin Coin?

Enjin is software that provides developers with the ability to create and manage virtual goods on Ethereum Blockchain.

2. Where can you buy ENJ?

ENJ has listed on many crypto exchanges, including Binance, OKX, Bybit, FTX, and CoinTiger.

3. Will ENJ reach a new ATH soon?

With the continuous developments and upgrades within the ENJ platform, it has a high probability of reaching its ATH soon.

4. What is the current all-time high (ATH) of Enjin Coin?

On November 25, 2021, ENJ reached its new all-time high (ATH) of $4.82.

5. Is ENJ a good investment in 2022?

Enjin Coin (ENJ) seems to be one of the top scoring cryptocurrencies this year. According to ENJ’s recorded performance in recent months, ENJ is considered a good investment in 2022.

6. Can Enjin Coin (ENJ) reach $5?

Enjin Coin (ENJ) is one of the active cryptos that continues to maintain its bullish status. Ultimately, if this bullish trend continues, Enjin Coin (ENJ) will soon reach $5.

7. What will the ENJ price be in 2023?

The price of Enjin Coin (ENJ) is expected to reach $6.5 in 2023.

8. What will the ENJ price be in 2024?

The price of Enjin Coin (ENJ) is expected to reach $7.8 in 2024.

9. What will the ENJ price be in 2025?

The price of Enjin Coin (ENJ) is expected to reach $8.5 in 2025.

10. What will the ENJ price be in 2026?

The price of Enjin Coin (ENJ) is expected to reach $10 in 2026.

Disclaimer: The opinion expressed in this chart is solely the author’s. It is not interpreted as investment advice. The NewsCrypto team encourages everyone to do their own research before investing.

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