Enjin (ENJ) crypto has been suffering from strong bearish divergence as is most of the cryptocurrency market. The cryptocurrency is on a downtrend and appears to be falling even lower. At the time of writing, Enjin coin stands ata. Price level of $1.08. The price has moved down by 6% in the past twenty-four hours while the daily trading volume has increased slightly.
Enjin (ENJ) technical analysis
The market sentiment for ENJ coin is bearish. Out of the total twenty-six technical indicators, fifteen are standing at a position of sell while nine indicators are neutral with only two giving out a signal of buy. The oscillators are neutral as the cryptocurrency is relatively stable while the moving averages suggest a strong down trend.
Enjin coin had been operating along a downward resistance line after the all-time high was established. Currently, ENJ crypto has reached upwards towards breaking the resistance line. The current price level coincides with the resistance level. This may be an indication of the onset of bullish momentum for the cryptocurrency. If Enjin crypto does not get rejected at the resistance level higher price targets can be activated.
Enjin (ENJ) price prediction
Enjin is a social gaming platform where users can tokenize in-game items. The cryptocurrency had showed phenomenal growth during the bull-run; hence, it is considered a good project in the longer timeframes. Wallet Investors’ estimates place the cryptocurrency at a price of $2.70 after a year while the 5-year forecast suggests a price of $9.48. Digital Coin Price is not as bullish on the cryptocurrency although it, too, predicts the growth of ENJ coin. Per their estimates, Enjin coin will end the year at $1.62 while the price will continue to gradually climb upwards to $4.82 in 2028.
