10 June 2023 : In this article we will walk you through Enjin Coin price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Enjin Coin, Is ENJ a good investment? Enjin Coin support & resistance levels etc. But before diving deep into the ENJ technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,043,788,213,507. The total trading volume stands at $48,462,339,398. Bitcoin shares 47.72 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,672.46 level after a decline of -3.52%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.64 percent reaching to $1,742.86 during the previous 24 hours.
While publishing this blog, BNB traded at $235.33, following a price change of -10.31%within the same time frame. XRP the native coin of XRP is down by -7.76 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Enjin Coin (ENJ)
|ENJ Resistance Levels||ENJ Support Levels|
|Resistance Level 1||$0.45||Support Level 1||$0.40|
|Resistance Level 2||$0.47||Support Level 2||$0.37|
|Resistance Level 3||$0.50||Support Level 3||$0.35|
The current Enjin Coin price is $0.31, with a trading volume of $12,133,066.00 in the past 24-hours. Currently, ENJ is down by -2.93% since yesterday with a market capitalization of $308,984,865.00 USD.
ENJ price analysis for 10 June 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Enjin Coin.
|Simple Moving Average (10)||0.43||Sell|
|Exponential Moving Average (10)||0.43||Sell|
|Simple Moving Average (20)||0.44||Sell|
|Exponential Moving Average (20)||0.44||Sell|
|Simple Moving Average (50)||0.48||Sell|
|Exponential Moving Average (50)||0.48||Sell|
The Relative strength index (RSI) for ENJ Coin is currently hovering at 36 for 14-days average line, which means ENJ is just recovering from a oversold condition. The Enjin Coin has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take ENJ price below the crucial support level of $0.40. The ENJ/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. While ENJ’s Williams %R indicator is at -32.922 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.
The value of ENJ is continuously dumping but it is expected that support levels at $0.40 and $0.37 will act as crucial points and bounce the trend line in the bullish zone