Enjin Coin is among the few coins in the crypto market that have made massive gains in the past 24 hours. With most of the crypto market trying hard to recover from yesterday’s pullback, ENJ is leading altcoins in price gains.
The coin is trading at $1.39 on major exchanges at the time of writing after a 19.3% gain.
ENJ Price Analysis
The coin is currently having a significant upswing, with most indicators in the market signalling a buy. However, the token’s volatility of currently high because of rapid price movements in the past weeks; hence a price fluctuation can happen either way.
The token is trading slightly below $1.40. The next resistance for the token is $1.45, and if it manages to reach this level, bulls will be strong, and investors might jump in to buy, hoping that prices will shoot towards $2, as it happened towards the end of June. An uptrend for the coin will depend on whether there is market support from the broader cryptocurrency market. If the upswing continues because of buying support, the upswing might reach exhaustion, in which case a price correction will trigger a downtrend for the token.
If a downtrend happens, Enjin will retreat to the immediate support level of $1.35. If bears are strong, the downtrend will trigger the token towards reaching $1. However, if the current market support persists, such a decline below $1 might not happen soon.
One of the factors that have contributed immensely towards Enjin Coin’s growth is its venture into NFTs. The NFT boom has boosted the popularity of ENJ, given that the platform allows users to mint tokens and NFTs.
The Enjin network is also popular among crypto gamers, given that players in a game can convert a rare collectable they earned when playing into ENJ coins. If the Enjin network has more use cases, we might witness the platform grow to become one of the most popular and innovative blockchain networks.
Where to Buy ENJ
To buy ENJ, you can create a cryptocurrency exchange account on the following platforms:
The first crypto exchange where you can buy ENJ is eToro. eToro supports a wide range of cryptocurrencies and trading pairs, and it is also available in many countries. Besides, eToro also charges low trading fees and has a copy-trading feature.
The other crypto exchange where one can buy ENJ is Binance. Binance is the largest global exchange in terms of trading volumes. Hence, it has higher liquidity. Trading on Binance is easy, and it charges some of the lowest trading fees.
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