- Bullish ENJ price prediction is $0.69 to $2.199.
- Enjin Coin (ENJ) price might also reach $5 soon.
- ENJ bearish market price prediction for 2022 is $0.320.
In Enjin Coin (ENJ) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about ENJ to analyze the future movement of the cryptocurrency.
Enjin Coin (ENJ) Current Market Status
According to CoinGecko, the price of Enjin Coin (ENJ) is $0.446243 with a 24-hour trading volume of $71,212,938 at the time of writing. However, ENJ has decreased by nearly 3.5% in the last 24 hours.
Moreover, Enjin Coin (ENJ) has a circulating supply of 934,340,659 ENJ. Currently, Enjin Coin (ENJ) trades in cryptocurrency exchanges such as Binance, Coinbase, OKX, KuCoin, Bitrue, FMFW.io, and AAX.
What is Enjin Coin (ENJ)?
Enjin Coin (ENJ) is an ERC-20 token native to the Enjin platform, a gaming community platform. It was launched in 2017 on the Ethereum blockchain. The transactions of ENJ are secured in the network by the proof-of-work (PoW) mechanism.
ENJ is used to buy, sell and trade NFTs in the Enjin ecosystem. Thus, these tokens serve primarily as utility tokens for backing NFTs. Users and developers can use Enjin (ENJ) to mint and create unique in-game NFTs. Along with ENJ, the Enjin ecosystem also has another token called Efinity token (EFI) which is the governance token of the native decentralized Enjin metaverse.
Enjin ecosystem enables users to utilize its native blockchain products to create unique NFTs for businesses and especially in the gaming industry.
Enjin Coin (ENJ) Price Prediction 2022
Enjin Coin (ENJ) holds the 93rd position on CoinGecko right now. ENJ price prediction 2022 is explained below with a daily time frame.
The above chart of Enjin Coin (ENJ) laid out a falling wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing.
From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Currently, Enjin Coin (ENJ) is in the range of $0.444. If the pattern continues, the price of ENJ might reach the resistance levels of $1.163, $1.996, and $4.745. If the trend reverses, then the price of ENJ may fall to $0.470.
Enjin Coin (ENJ) Support and Resistance Levels
The chart below shows the support and resistance levels of Enjin Coin (ENJ).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Enjin Coin (ENJ).
| Resistance Level 1 | $0.690 |
| Resistance Level 2 | $0.942 |
| Resistance Level 3 | $1.242 |
| Resistance Level 4 | $2.199 |
| Support Level 1 | $0.480 |
| Support Level 2 | $0.320 |
The charts show that Enjin Coin (ENJ) has performed a bullish trend over the past month. If this trend continues, ENJ might run along with the bulls overtaking its resistance level at $2.199.
Accordingly, if the investors turn against the crypto, the price of Enjin Coin (ENJ) might plummet to almost $0.320, a bearish signal.
Enjin Coin (ENJ) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Enjin Coin (ENJ) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of ENJ lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Enjin Coin (ENJ) is shown in the chart above. Notably, Enjin Coin (ENJ) price lies below 50 MA (short-term), so it is completely in a downtrend. Currently, ENJ is in a bearish state. Therefore, there is a possibility of a reversal trend of ENJ at any time.
Meanwhile, the relative strength index (RSI) of the ENJ is 31.71. This means that Enjin Coin (ENJ) is in an oversold state. However, this means a major price reversal of ENJ may occur in the upcoming days. So, traders need to trade carefully.
Enjin Coin (ENJ) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Enjin Coin (ENJ). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Enjin Coin (ENJ). Currently, the ADX of ENJ lies in the range of 36.354 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Enjin Coin (ENJ). RVI measures the constant deviation of price changes over a period of time. The RVI of ENJ lies above 50, indicating high volatility. In fact, the RSI of Enjin Coin (ENJ) is at 31.71, thus confirming a potential buy signal.
Comparison of ENJ with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Enjin Coin (ENJ).
From the above chart, we can interpret the price changes of BTC, ETH, and ENJ are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ENJ would increase or decrease respectively.
Enjin Coin (ENJ) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Enjin Coin (ENJ) might probably attain $6.5 by 2023.
Enjin Coin (ENJ) Price Prediction 2024
With several upgrades in the network, Enjin Coin (ENJ) might enter a bullish trajectory. If the coin grabs the attention of major investors, ENJ might rally to hit $7.8 by 2024.
Enjin Coin (ENJ) Price Prediction 2025
If Enjin Coin (ENJ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, ENJ would rally to hit $8.5.
Enjin Coin (ENJ) Price Prediction 2026
If Enjin Coin (ENJ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, ENJ would rally to hit $10.
Enjin Coin (ENJ) Price Prediction 2027
If Enjin Coin (ENJ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, ENJ would rally to hit $10.9.
Enjin Coin (ENJ) Price Prediction 2028
If Enjin Coin (ENJ) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, ENJ would hit $11.8 in 2028.
Enjin Coin (ENJ) Price Prediction 2029
If investors flock in and continue to place their bets on Enjin Coin (ENJ), it would witness major spikes. ENJ might hit $12.7 by 2029.
Enjin Coin (ENJ) Price Prediction 2030
With greater advancements in the Enjin Coin Network ecosystem, the crypto community might continue to invest in ENJ for the next 8 years and drive significant price rallies for the token. Hence, Enjin Coin (ENJ) might hit $14 by 2030.
Conclusion
With continuous improvements in the Enjin Coin Network network, we can say that 2022 is a good year for ENJ. For this reason, the bullish price prediction of Enjin Coin (ENJ) in 2022 is $2.199. On the other hand, the bearish price prediction of Enjin Coin (ENJ) price prediction for 2022 is $0.320.
Furthermore, with the advancements and upgrades to the Enjin Coin Network ecosystem, the performance of ENJ would help to reach above its current all-time high (ATH) of $4.82 very soon. But, it might also reach $5 if the investors believe that ENJ is a good investment in 2022.
FAQ
Enjin Coin (ENJ) is the native cryptocurrency of the Enjin Coin Network. It was launched as an ERC-20 token in 2017. It majorly is deployed in backing the NFTs in the gaming platform associated with Enjin.
Enjin Coin (ENJ) has been listed on many crypto exchanges which include Binance, Coinbase, OKX, KuCoin, Bitrue, FMFW.io, and AAX.
With the ongoing developments and upgrades within the Enjin Network platform, Enjin Coin (ENJ) has a high possibility of reaching its ATH soon.
On November 25, 2021, Enjin Coin (ENJ) reached its new all-time high (ATH) of $4.82.
Enjin Coin (ENJ) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Enjin Coin Network in the past few months, ENJ is considered a good investment in 2022.
Enjin Coin (ENJ) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Enjin Coin (ENJ) will hit $5 soon.
Enjin Coin (ENJ) price is expected to reach $6.5 by 2023.
Enjin Coin (ENJ) price is expected to reach $7.8 by 2024.
Enjin Coin (ENJ) price is expected to reach $8.5 by 2025.
Enjin Coin (ENJ) price is expected to reach $10 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Source: https://thenewscrypto.com/enjin-coin-enj-price-prediction