<b><i>The ENJ coin price shows a bullish reversal within a long-coming falling wedge pattern as Metaverse coins gain bullish attention.</i></b>

<span style="font-weight: 400">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.</span>

<span style="font-weight: 400">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.</span>

<span style="font-weight: 400">Let us move ahead to read about Enjin technical analysis.</span>
<h2><b>Past Performance of ENJ</b></h2>
<span style="font-weight: 400">The ENJ coin price action <a href="https://www.cryptoknowmics.com/news/enj-technical-analysis-triangle-fallout-relays-a-selling-race/">forms</a> 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.</span>

<img src="https://s3.tradingview.com/snapshots/j/JP8tKTRn.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/JP8tKTRn/"><span style="font-weight: 400">ENJ/USD Daily Chart</span></a>
<h2><b>ENJ Technical Analysis</b></h2>
<span style="font-weight: 400">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.</span>

<span style="font-weight: 400">The crucial </span><b>Exponential Moving Averages</b><span style="font-weight: 400"> 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.</span>

<span style="font-weight: 400">The </span><b>DMI Indicator</b><span style="font-weight: 400"> 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.</span>

<span style="font-weight: 400">The </span><b>MACD Indicator </b><span style="font-weight: 400">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.</span>

<span style="font-weight: 400">Therefore, the technical indicators reflect a possible bullish reversal in the ENJ coin price.</span>
<h2><b>Upcoming Trend</b></h2>
<span style="font-weight: 400">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. </span>

<span style="font-weight: 400">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.</span>

At the time of writing, TradingView analyzes the 4-hour chart of ENJ and gives a "NEUTRAL" signal.
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<div class="tradingview-widget-copyright"><a href="https://in.tradingview.com/symbols/ENJUSD/technicals/" target="_blank" rel="noopener"><span class="blue-text">Technical Analysis for ENJUSD</span></a></div>
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ENJ Technical Analysis: Reversal Within Wedge Brings Buyers Back

The ENJ coin price shows a bullish reversal within a long-coming falling wedge pattern as Metaverse coins gain bullish attention.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ENJ Technical Analysis: Reversal Within Wedge Brings Buyers Back

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