- 1 The Enjin Coin price prediction for 2024 suggests that it may get doubled.
- 2 The coin price is trying to climb above the 200-day EMA, showing signs of a bullish trend reversal.
- 3 The downfall in ENJ has taken a halt and prices are in the recovery phase.
Enjin Coin price prediction for 2024 suggests ENJ crypto price will continue the recovery and may reach the $0.5000 level. The price is in recovery mode and buyers are trying their best to continue the momentum.
The ENJ price holds the 50-day EMA, showcasing that the short-term trend has reversed upward. Moreover, buyers are also trying to push the price above the 200-day EMA to bring back the confidence of investors.
In the mid of October, Enjin Coin price took support near to the $0.2034 level and slowly began to recover. Meanwhile, the buying volume also surged, which positively impacted the prices.
ENJ crypto price rallied approximately 60% from the yearly low and attempted to break out of the $0.3341 hurdle. Sadly, the prices faced rejection and witnessed minor profit booking.
However, the short-term correction halted near the EMA and prices again showed a bounce back.
At the time of writing, ENJ/USDT price is trading at $0.3204 with an intraday rise of 4.46%. In the last 24 hours, the volume increased by 37.22%, and the 24-hour volume to market is 7.35%.
Enjin Coin Price (ENJ) Getting Ready for Big Up Move
Source: ENJ/USDT daily chart by Tradingview
Enjin Coin price prediction favors the bulls and suggests more scope for upside is open. The buyers are more aggressive and finally return back to track, which increases the possibility of continuing the momentum.
Till the ENJ price sustains above the $0.2500 level the bulls will remain active and downside risk will be low.
The next phase of the rally will trigger when buyers succeed in breaking out of the $0.3341 hurdle. However, if the price face rejection from the resistance, it may spend some time in the consolidation range.
The analysis suggests that the ENJ crypto price is in the bulls’ grip and might show a big move in December.
The ENJ Coin Price Looks Bearish on a Weekly Chart
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ENJ price still looks bearish on a weekly time frame chart. Buyers need to break out of the $0.4105 hurdle to turn the prices bullish on a weekly chart.
Moreover, the crypto leaders like BTC and ETH are mildly bullish. So, it positively impacts the overall market sentiment and prices of ENJ as well as other altcoins. Therefore, investors should add Enjin Coin to their portfolio and participate in the rally.
Conclusion
The Enjin Coin price prediction suggests it may double by 2024 and reward investors in the long run. The ENJ crypto price bouncing back from the EMA support and it may try to break the $0.3341 hurdle. If the breakout happens, a sharp rise may be visible.
Technical levels
- Resistance levels: $0.3341 and $0.4105
- Support levels: $0.2500 and $0.2034
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steefan George
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
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