Enjin Price Prediction for Today, December 31 – ENJ Technical Analysis

The Enjin price prediction reveals that ENJ may continue to follow the bullish movement as the coin moves to cross above the channel.

Enjin Prediction Statistics Data:

• Enjin price now – $0.38
• Enjin market cap – $384.9 million
• Enjin circulating supply – 1 billion
• Enjin total supply – 1 billion
• Enjin Coinmarketcap ranking – #136

ENJ/USD Market

Key Levels:

Resistance levels: $0.45, $0.47, $0.49

Support levels: $0.32, $0.30, $0.28

ENJ/USD is likely to hold gains above the 9-day moving average as the price faces the resistance level of $0.40. At the time of writing, the Enjin price is recovering above $0.37 and the 9-day moving average remains above the 21-day moving average. Meanwhile, the Enjin price could start another decline unless it surpasses and stays above the main $0.40 resistance zone.

Enjin Price Prediction: Would Enjin Hold Above $0.38?

According to the daily chart, the Enjin price is currently hovering at the resistance level of $0.38 and the initial support could still be created below the previous low at $0.36. If the coin eliminates this level, the sell-off may begin with the next focus on the $0.34 level. Therefore, if this support level drops further, the downward momentum could begin to snowball, and the next closest supports may be located at $0.32, $0.30, and $0.28.

As the daily chart reveals, bulls must realize the need to cross above the upper boundary of the channel before they can get to the potential resistance levels. Above this handle, traders may need to consider a sustained move for the extended recovery to the resistance levels of $0.45, $0.47, and $0.49. Meanwhile, the 9-day MA remains above the 21-day MA, which could give additional bullish signals within the channel.

ENJ/BTC Could Face the North

Against BTC, buyers are making an effort to step back into the market as the Enjin price keeps showing some promising signs. On the upside, if the price crosses above the upper boundary of the channel, the nearest resistance level could be located at 1050 SAT and above.

However, when looking from the downside, the nearest support level is below the moving averages at 850 SAT. Therefore, if the price drops further to create another low, lower support is located at 750 SAT and below. The 9-day moving average keeps hovering above the 21-day moving average which indicates that the market may follow the bullish movement.

Enjin Alternatives

As of the current moment, traders might observe potential upward momentum for the Enjin price if it surpasses the channel. This is evident as the 9-day moving average continues to outpace the 21-day moving average. Upon examining the daily chart, the market has shown resilience, rebounding from a low of $0.36 while staying above the 9-day moving average. However, any downward movement beneath this threshold could signal a significant bearish trend for the coin.

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