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.

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.

MyCointainer, a platform for crypto staking, today announced closing its $6 million seed funding round. Co-leading the seed round was Mapleblock, Shima Capital, and Bybit, a popular crypto exchange. Additionally, a myriad of angel investors participated in the round including CoinList, Circle, and Polygon. ConsenSys, Near, 1inch, Algorand, Polkadot, dY/dX, Casper Labs, Mina, Ankr, and […]

The post Crypto staking platform MyCointainer raises $6M in seed round appeared first on CryptoNinjas.

Tallinn, Estonia, 26th January, 2022, Chainwire MyCointainer, a platform for easy yield staking, announced it has raised $6 million in a Seed Round. The event was led by Maple Block and co-led by Shima Capital & ByBit – one of the dominant cryptocurrency exchanges worldwide. Numerous high-profile angel investors also participated in the round. Among […]

The crypto market was in the green over the past 24 hours, as the…

The post Market highlights January 26: Cryptos stage comeback, oil and commodity stocks take UK100 higher appeared first on Coin Journal.

Grayscale, the world’s largest crypto asset supervisor, is contemplating 25 extra crypto belongings for funding merchandise. With the newest additions, the corporate’s checklist of cash into consideration has grown to 43. “The process of creating an investment product similar to the ones we already offer is a complex, multifaceted process,” stated Grayscale. 25 Crypto Assets […]

The post Grayscale Considering 25 More Crypto Assets for Investment Products – Altcoins Bitcoin News appeared first on Bitcoin Upload.

At its most basic, a metaverse is a three-dimensional virtual universe that combines augmented and virtual reality with social media technology to create a simulated digital environment. For some in the digital space, especially video gamers, the idea of the metaverse is easy to understand. Whether it is the (often) mild-mannered virtual spaces of the Read more...

The post How Fintech is Embracing the Metaverse appeared first on Finovate.

The bearish breakout of the descending triangle fallout in the ENJ coin price drives the price lower, indicating a breakout of $1.50.  The Enjin blockchain ecosystem is designed to provide software that allows anyone to build, trade, monetize and trade using blockchain. Enjin has its roots in the gaming industry with the first product of the company a gaming community platform dubbed the Enjin Network that grew into 20 million customers in the span of 10 years. Let us move ahead to read about Enjin’s technical analysis. Past Performance of ENJ ENJ coin price shows a fall of more than 30% in the last 72 hours, resulting in the fallout below the horizontal support level at $2. The fallout leads to the breakout of the descending triangle pattern mentioned in our previous article. Moreover, the 20% fall in the last 24 hours with a 40% jump in trading volume indicates a boom in selling pressure.  ENJ/USD Daily Chart ENJ Technical Analysis The fallout below the horizontal support at $2, the ENJ coin price approaches the $1.5 level. However, the increasing selling pressure teases a fallout shortly that will generate a selling opportunity.  The falling Crucial Exponential Moving Averages in the daily chart give a bearish crossover between the 50 and 100-day Averages. Furthermore, the coin price breaks below the 200-day EMA. The Momentum indicator shows the slope failing to sustain above the zero line mark in the daily chart. Currently, heading lower into the negative zone, the slope reflects the rise in underlying bearishness. The Ultimate Oscillator indicator at 25 shows the slope entering the oversold zone with a sudden fall in the daily chart. Hence, the indicator gives a strong sell signal for the ENJ coin.  In conclusion, the technical indicator showcases a rise in selling pressure and hints at the fallout of $1.5. Upcoming Trend The sudden increase in the selling pressure in the ENJ coin price increases the trend momentum. Therefore, the traders can shortly find selling opportunities at the breakout of $1.5. The price action shows the support levels at $1.20 and $1.00. On the opposite end, the coin price may find resistance at $1.80 and $2. At the time of writing, Technical Analysis by TradingView gives a “STRONG SELL” signal for the ENJ coin. Technical Analysis for ENJUSD

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The market is still bright red as Bitcoin hits a six-month low and other coins suffer, while metaverse and gaming tokens are in free fall.

The cyclical nature of crypto markets usually means Q1 is one of the slowest quarters throughout the year. The bearish market means many underrated Metaverse crypto coins are currently on sale, making for a great buy opportunity. This article looks at our top nine favorite Metaverse crypto coins with a unit price below $9 to […]

The post Top 9 Metaverse Crypto Coins Below $9 to Watch in 2022 appeared first on NullTX.

Microsoft is buying video games Activision Blizzard for $68.7 billion. If approved, the acquisition would bring together two giants of the video gaming world but [...]

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

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