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- Enjin price is currently halting after its huge jump in the last trading session. Meanwhile the price went up by more than 38% in 24 hour period
- A Tweet came up on 25th May 2021, regarding the upcoming pump. It helped the price to see a 2x jump
Enjin price is currently trading at $1.90 with a gain of 38% in the intraday session. ENJ token price has recently seen a pump of 85% on 26th May 2021. A tweet came on to the Enjin twitter saying “It is almost time to jump Marty” with a reference to Back To The Future. The tweet did its work and Enjin price saw a huge spike. This may have helped various investors but it can also be harmful to retailers. The price is now stable and forming a Doji candle. It hints a possibility of halt near the current price.
Enjin coin is currently ranked 63rd with the market capitalization of $1,608,906,908.68.The volume of the coin has seen a jump of 448% in the last 24 hour. The volume to market capitalization ratio for the coin is 0.64 hinting an uptrend.
Technical Indicators Suggests An Uptrend In The ENJ Token Price
ENJ token price hints at an uptrend in the weekly technical chart. A halt in the bullish momentum can be seen on the daily chart. Enjin price can face a resistance on the upside at $3. A support for the price on the downside can be observed at $1. The price is trading below 50 and 100 Daily Moving Average. The 100MA (Red) line is at $2.02 which is currently near the current price. The coin is seeing an uptrend in the daily chart. If the price goes above $3, then one can expect a strong uptrend in the future . ENJ/BTC pair is also seeing an uptrend which can last for a while in the future.
RSI(Bullish): It is currently at 51.83 , showcasing its presence in the neutral area. There is a zero slope formation in the RSI, which hints a possibility of the consolidation. RSI depicts a consolidation momentum for the price.
Conclusion
ENJ token price has seen a significant jump after a tweet on 25th MAY 2021. It has given significant returns in the past and can continue to do the same. Enjin token price can soon see an rally to $5. An Investor can do their due diligence before investing.
Technical Levels
Major Support:$1
Major Resistance:$3
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
