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Tag: enjin coin

Crypto Whales Take Advantage of Dip, Swoop In on Ethereum (ETH) and Four Altcoins: Analytics Firm Santiment

Analytics firm Santiment is taking stock of the crypto markets as the world reacts to Russia’s ongoing war with Ukraine. In a new Insights blog post, the firm provides data that tracks the buying and selling action of more than 50 digital assets. Among the most accumulated altcoins were gaming tokens Enjin Coin (ENJ) and […]

The post Crypto Whales Take Advantage of Dip, Swoop In on Ethereum (ETH) and Four Altcoins: Analytics Firm Santiment appeared first on The Daily Hodl.

$ENJ: Coin Bureau on Reasons to be Bullish on Ethereum-based Gaming Altcoin ‘Enjin Coin’

The host of popular crypto analysis and market commentary show Coin Bureau has issued a long-term outlook for the gaming altcoin Enjin Coin ($ENJ), which serves as a “utility token” for non-fungible tokens (NFTs). In a guide published in May 2020, Binance Research referred to Enjin Coin as “a product ecosystem for blockchain gaming.” It […]

ENJ Technical Analysis: Wedge Breakout Unleashes Trapped Bullishness 

ENJ Technical Analysis

The ENJ coin price breaks above the long-coming falling wedge pattern resulting in an overnight trend reversal, aiming to break above the $2 mark. Co-founder of Enjin, Witek Radomski authored the code to create one of the very first Non-fungible Tokens (NFTs) in the world. He is the co-author of the ERC-1155 Ethereum token standard. Based on an on-chain platform and a blockchain infrastructure, the Enjin ecosystem allows businesses and game developers regardless of size to make use of tokenized digital assets in the course of their engagement, acquisition, retention, and strategies for monetization. The Enjin ecosystem is powered through Enjin Coin, an e-currency used to support the worth of blockchain-based assets. Let us move ahead to read about ENJ technical analysis. Past Performance of ENJ The ENJ coin price action makes a follow-through candle of the morning star pattern made slightly below the resistance trendline of the falling wedge. The morning star and the follow-through candles result in a price jump of over 15%. Thus, resulting in the breakout of the falling wedge pattern in the daily chart.  ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price action breaks above the long-coming falling channel pattern in the daily chart. Therefore, traders can expect the post-breakout rally to break above the $2 psychological mark. The crucial Exponential Moving Averages (50 and 200-day) showcase a death cross in the daily chart as the EMAs maintain a falling trend. However, the price jump may shortly reverse the trend in EMAs.  The RSI indicator indicates that the slope is increasing over that 14 day-SMA as well as the centerline of the daily chart. The increase is after the bullish divergence that is seen within the band. So, a continuation in the bullish direction could be likely. The Stochastic RSI indicator shows the K and D line undermining the previous bearish crossover as the K line gives a bullish crossover with the D line. The lines remain in the overbought zone reflecting a boom in underlying bullishness.  In a nutshell, the technical indicators represent the bulls taking over the ENJ price trend with the falling wedge breakout. Therefore, traders can expect a pst-retest rally. Upcoming Trend The ENJ technical analysis shows the coin price action demonstrating a bullish breakout of the falling wedge pattern in the daily chart. However, the price is yet to retest the breakout, that is why a reversal in the upcoming days is possible.  Buyers at the current price can expect a target above the $2 mark, close to the $2.15 horizontal level. However, the bearish influence by the death cross can result in a retest prior to the bullish rally.

The post ENJ Technical Analysis: Wedge Breakout Unleashes Trapped Bullishness  appeared first on Cryptoknowmics-Crypto News and Media Platform.

Enjin Coin (ENJ) rallies slightly – Can it find enough bullish momentum in the near term?

Metaverse and blockchain gaming tokens are starting to come out of the crypto winter.…

The post Enjin Coin (ENJ) rallies slightly – Can it find enough bullish momentum in the near term? appeared first on Coin Journal.

ENJ Technical Analysis: Reversal Within Wedge Brings Buyers Back

ENJ Technical Analysis

The ENJ coin price shows a bullish reversal within a long-coming falling wedge pattern as Metaverse coins gain bullish attention. Enjin Coin is a subsidiary of Enjin, which offers an interconnected ecosystem of games that are based on blockchain technology. The flagship product of Enjin is the Enjin Network, a social gaming platform where players can create clans and websites. Enjin lets game developers tokenize game items using their Ethereum blockchain. It utilizes Enjin Coin, an ERC-20 token, to secure the digital assets created by its platform. This means that products can be purchased, sold, or traded using real-world value. Let us move ahead to read about Enjin technical analysis. Past Performance of ENJ The ENJ coin price action forms a long-coming support trendline in the daily chart. Currently, the price bounces from the trendline and the $1.5 horizontal level to rise more than 10% in the past 24 hours. Therefore, a price jump to the next level at $2.15 is possible. ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price action creates a huge falling wedge pattern in the 24-hour chart, with a price jump from the support trendline. Hence, a further bullish continuation within the pattern to the resistance trendline is possible. The crucial Exponential Moving Averages struggle to maintain a bullish alignment in the daily chart after the bearish crossover of the 50 and 100-day EMA. The price breaks below the 200-day EMA, however, the recent jump hints at a possible fallout retest. The DMI Indicator shows the ADX above 30%, reflecting a solid trend momentum in play. But the -DI remains higher than the +DI line despite a recent reversal in the lines supporting a bullish comeback. The MACD Indicator shows a parabolic reversal in the fast line as it approaches to cut higher above the signal line. Therefore, a bullish crossover indicating a bullish takeover is possible shortly. Therefore, the technical indicators reflect a possible bullish reversal in the ENJ coin price. Upcoming Trend The ENJ coin price takes support in the long-coming falling wedge pattern reflecting the possibility of a bullish reversal to touch the resistance trendline. Therefore, bullish traders can find entry spots at current prices.  Buyers can target the $2 and $2.15, coinciding with the 200-day EMA as upcoming targets. However, a sudden jump in selling pressure will drive the price lower to the $1.15 mark. At the time of writing, TradingView analyzes the 4-hour chart of ENJ and gives a “NEUTRAL” signal. Technical Analysis for ENJUSD

The post ENJ Technical Analysis: Reversal Within Wedge Brings Buyers Back appeared first on Cryptoknowmics-Crypto News and Media Platform.

ENJ Technical Analysis: Descending Triangle Pattern Threatens to Extend Correction Rally

ENJ Price

ENJ coin price action is under the influence of a bearish descending triangle pattern. Will buyers lose the $2.1 support as well? The Enjin blockchain ecosystem seeks to provide software solutions that enable anyone to build, trade, monetize and trade using blockchain. Established in 2009, Enjin is a part of the gaming industry. Its roots are in its first product, a gaming community platform dubbed the Enjin Network that grew into 20 million customers in the span of more than a decade. Enjin Coin is an electronic store of value that is used to protect the value of blockchain assets, such as Non-fungible Tokens (NFTs). Each asset created using the Enjin Platform contains ENJ, the minting resource that is kept in NFTs until taken out of circulation. Minting blockchain assets using the Enjin token offers a range of advantages for creators and users: Let us move ahead to read about Enjin’s technical analysis. Past Performance of ENJ The correction phase in ENJ is struggling to break down from the $2.1 support. However, the series of lower highs in the technical chart has revealed a descending triangle pattern. The pattern presents its neckline at the $2.1 mark, and the crypto traders should wait for the price to breach this support to get a sell signal. Furthermore, the decreasing volume activity within this pattern indicates the trapped momentum, which should outburst when the price escapes the chart pattern. ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price has recently faced another rejection from the descending trendline. The coin is currently approaching the bottom support after completing a falling three-method candle pattern. The crypto traders should closely watch for price action at this high area of interest. As the price might retest this $2.1 for another support. Crucial EMAs (50, 100, and 200) in the daily chart maintain a bullish trend as the coin price is still trading above the 200 EMA. However, the other EMA lines could interrupt any bullish attempt.  The RSI indicator (43%) moving below the neutral line indicates a bearish sentiment among the market participants. The RSI slope has dropped below the 14-day SMA line. The MACD indicator shows several crossovers among the MACD and signal line due to the consolidating price action. However, the price action is still under a bearish influence as these are roaming below the neutral line. In short, the price action resonating in the triangle pattern might have caused inactive momentum in the technical indicator. However, they still indicate an overall bearish outlook for the ENJ coin. Upcoming Trend The failure to sustain above the $2.1 support will boost the selling pressure in this coin and drop it to an even lower level, i.e., $1.75 or $1.5. Even though this pattern promotes the continuation of bear attacks. The final call depends on the price action, on which side it provides a breakout. Therefore, the crypto traders should be patient till the price doesn’t breach the bottom support($2.1). The ENJ coin price chart suggests the next support levels at $1.7 and $1.5. And, in case of a bullish reversal, the price can find resistance at $2.5 and 50-day EMA. At the time of writing, the technical analysis by TradingView shows a rise in bearish sentiments as it gives a “SELL” signal for the ENJ coin. Technical Analysis for ENJUSD

The post ENJ Technical Analysis: Descending Triangle Pattern Threatens to Extend Correction Rally appeared first on Cryptoknowmics-Crypto News and Media Platform.

Market highlights January 14: Bitcoin takes a step back, big banks kick off earnings season

The crypto market was mostly lower over the past 24 hours. Major investment bank JPMorgan Chase reports its…

The post Market highlights January 14: Bitcoin takes a step back, big banks kick off earnings season appeared first on Coin Journal.

5 Metaverse Startups from Asia to Watch in 2022

The metaverse, a concept referring to a shared, immersive virtual environment, has become one of the hottest business trends: tech giants including Facebook, Google and Microsoft have all jumped on

The post 5 Metaverse Startups from Asia to Watch in 2022 appeared first on Fintech Singapore.

Drops Loans Launch on Ethereum Mainnet

Drops Loans finally made the most exciting announcement of deploying the Drops Loans protocol on the Ethereum mainnet. Drops is the foremost platform of the world for trust-less borrowing of loans against NFT-based assets and NFTs. The protocol shall commence its operation on the Ethereum mainnet by accepting primary tokens from exclusive NFT projects. The …

Coinbase Pro Introduces MASK and RLY Networks

In a recent turn of events, Coinbase Pro presents traders with lucrative offerings of Mask Network (MASK) and Rally (RLY) for their accounts. Clients of the trading platform will be permitted to exchange the network’s assets before the trading pursuits begin. From the launch date of July 15, 2021, Coinbase Pro will be admitting the …

Bitcoin Retraces to $34K as Trading Volume Reaches Multi-Month Low (Market Watch)

The price of bitcoin decreased by roughly $2,000 in a day after the weekend surge, as the trading volume declined to a multi-month low.

Decentraland Will Host Ethereum’s First Music Festival: Report

Decentraland will host Ethereum’s first music festival, live virtual one that is and promises a lot of music, fund, and exclusive NFT goodies so let’s see more about it in our latest Ethereum news. Decentraland will host Ethereum’s first music live festival and it started seeing a lot of attendees. Decentraland is a mix between […]

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