An ecosystem of interconnected, blockchain-based gaming products is what Enjin Coin is, which is a project of Enjin. Enjin's flagship product is the Enjin Network, a social gaming platform that allows users to create websites and clans, chat, and host virtual item stores. Let us look into the technical analysis of ENJ.
<h2><strong>Past Performance </strong></h2>
On October 20, 2021, ENJ opened at $1.60. On October 26, 2021, ENJ closed at $2.01. Thus, <a href="https://www.cryptoknowmics.com/news/enj-technical-analysis-trading-within-a-range-of-1-76-and-1-44-hold-current-positions/">in the past week</a>, the ENJ price has increased by approximately 25%. In the last 24 hours, ENJ has traded between $1.96-$2.27.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/y/ynj4s4MD.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/ynj4s4MD/">https://www.tradingview.com/x/ynj4s4MD/</a>
<h2><strong>ENJ Technical Analysis</strong></h2>
The <strong>MACD and signal lines</strong> are in the positive zone. Moreover, a bullish crossover by the signal line over the MACD line has occurred. Thus, the overall market momentum is turning bullish. Hence, the price may rise further.

Currently, the <strong>RSI indicator</strong> is at 70. It faced rejection from 56 and rose to this level. Thus, it seems like buying pressures are slowly mounting. We can expect the price to form support at the current levels.

The <strong>OBV indicator</strong> is upward sloping. Thus, buying volumes are higher than selling volumes.

In short, when we look at all three oscillators, we can say that the price may continue to rise. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch if an intermittent price rise is a corrective action or the beginning of a positive trend.
<h2><strong>Day-Ahead and Tomorrow </strong></h2>
The immediate support level price will be $1.99. ENJ is expected to bounce from these levels. However, if the price breaks down from this level, we can expect it to touch the next support level, which is at $1.74. Traders can take a short position accordingly.

On the other hand, if the buying pressure persists, it will test the resistance level at $2.27. After breaking this level, it will highlight the next resistance level, which is at $2.69. This opens up an opportunity to go long for the traders.

ENJ Technical Analysis: Price May Continue to Rise, Possibility of a Trend Reversal

ENJ immediate support level price will be at $1.99. It is expected to bounce from these levels. However, if the price breaks down from this level we can expect it to touch the next support level which is at $1.74. Traders can take a short position accordingly. On the other hand, if the buying pressure persists it will test the resistance level at $2.27. After breaking this level it will highlight the next resistance level which is at $2.69. This opens up an opportunity to go long for the traders.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

ENJ Technical Analysis: Price May Continue to Rise, Possibility of a Trend Reversal

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