Enjin Price Prediction for Today, November 7 – ENJ Technical Analysis

The Enjin price prediction reveals that ENJ may lack medium-term support but if the price rises even further, the coin is likely to create additional gains.

Enjin Prediction Statistics Data:

• Enjin price now – $0.31
• Enjin market cap – $316.1 million
• Enjin circulating supply – 1 billion
• Enjin total supply – 1 billion
• Enjin Coinmarketcap ranking – #111

ENJ/USD Market

Key Levels:

Resistance levels: $0.40, $0.45, $0.50

Support levels: $0.25, $0.20, $0.15

ENJ/USD is trading around the $0.31 resistance level as it may need to spike above the upper boundary of the channel. However, if the bulls keep the market price above the 9-day and 21-day moving averages, the nearest resistance may be located around $0.35. Moreover, if the market increases, additional resistance can be found above the channel.

Enjin Price Prediction: Enjin (ENJ) Ready to Break to the North

At the moment, traders could see that the Enjin price may continue to create more bullish trends if the buyers increase the buying pressing within the channel and this is noticeable as the 9-day moving average remains above the 21-day moving average.

Meanwhile, the market could decide to rebound from the current market value of $0.31 to hit another resistance level of $0.35 but any bearish movement below moving averages could lead the coin to a serious downtrend. Therefore, the support levels for the coin could be found at $0.25, $0.20, and $0.15, while the resistance levels lie at $0.40, $0.45, and $0.50 respectively.

ENJ/BTC Could Face the Upside

Against Bitcoin, the Enjin price may need to reclaim the daily high of 956 SAT according to the daily chart. Moreover, the nearest resistance is set at 1000 SAT because the market price is still hanging around the upper boundary of the channel. Technically, the price may continue to move upward as the 9-day moving average keeps changing above the 21-day moving average.

However, if the Enjin price crosses below the moving averages, ENJ/BTC may likely head toward the lower boundary of the channel which could hit the support level of 750 SAT and below. Any bullish movement above the channel may allow the market to form a new upward trend and this could reach the potential resistance at 1050 SAT and above.

Alternatives to Enjin

The Enjin price is likely to hold gains above the current price of $0.31 as the price goes up. At the time of writing, the Enjin price is recovering above the opening price of $0.30 as the 9-day moving average remains above the 21-day moving average. Meanwhile, if the bears step into the market, the Enjin price could start another decline unless it surpasses and stays above the main $0.35 resistance level.

Nevertheless, buyers are to take note of the promising Bitcoin Minetrix token as it emerges in the crypto landscape. While the well-established Enjin coin currently enjoys a bullish trend, Bitcoin Minetrix, a new entrant, has already raised an impressive $3.63 million in its presale, signaling strong early investor support. This substantial backing early on suggests that Bitcoin Minetrix has the potential to outpace more seasoned tokens.