$ENJ target 2.40Have been trading Enjin since January and the returns have been enormous. Patterns are very clear and it's therefore been quite easy to take profit and re-enter at lower prices.
ENJUSD trade ideas
$ENJ, one more leg up for now?We're in a very bullish altcoin-year and those who have invested a substantial amount of their funds since January have done really well. Many if not most of the altcoins have done five-baggers, ten-baggers or even more. Yet we all realize that nothing goes up forever. How to decide when to get out?
One of the indicators I follow is RSI. Once we see a continuous pattern of lower highs in the RSI, one has to be careful. $ENJ is showing such a pattern. The earlier chart I uploaded spoke of a target of 2.4 and I still stand by this, but the log charts shows that the strength is fading away. Does this mean we are coming to the end of the bull market for $ENJ? Not necessarily, but it does predict that we may be getting ready for a bigger correction and only based on the shape of that correction, we can decide whether we are at the end or about to start a new bull-run towards new highs.
ETN and ENJ still making entry signals to the long sideEntering on the high of a prior 1 hour bar or directly at the POC line and then keeping the trailing stop below the low of prior day is my main setup for these kind of strong upmoving instrument.s
keep in mind for such momentum trade to place the breakeven stop after 1 hour as the trend might end soon.
More upside with EnjinEnjin Market Cap at the peak of 2017 was $400 million.
Right now its at $2B, only 5X.
The amount of innovation and the work that's been done in the Gaming/VR space since then + Partnerships + Covid tailwinds suggest there's way more upside in Enjin despite the reason parabolic moves.
Catalysts
- Jumpnet launch April 2021
- Efinity Launch 31 Dec 2021
Partnerships
- Microsoft Azure
- First gaming token approved in Japan
- Atari
ENJUSD Looking Extremely Bullish. Beautiful 80% SetupENJ recently broke out of a massive channel and managed to touch the 1.618 @ $2.30
I believe this is the 5th Wave and after some consolidation we could see another jump to the 2.618 target @ the $3.50 level for a potential 80% gain
Buy Zone: $1.87 - $2.00
Target: $3.50
Stop Loss: Below $1.50
Get LANDENJ may be the best crypter in all of the space this cycle. They have the NFT space covered in a big way, but I am interested in it from the Real Estate side. Block chain and RE are made for each other.
Follow that channel out for the rest of the year.
ENJ Sets All-Time High Of $1.80Enjin coin traded at $1.70 with a gain of 31.77% in the last 24-hour. However, ENJ maintains a healthy gain of 169.85% on the weekly time-frame. In contrast, the market capitalization stands at $1 billion. Technically, investors can perceive a positive crossover in SMA. Moreover, SuperTrend also indicates a green signal, but the asset is heavily overbought; Enjin coin price may cool down in future trading sessions.
Resistance: $1.40
Support: $1.08
ENJIN Daily Kihon Suchi possible reversal ENJIN has made some massive gains the last few days, but I expect a pull back after today as it is running up against the 51, 17, and 9 periods. Pull back seems to be somewhere around 40%, but after a 200%+ gain in the last 9 day period, I think pull back could be sharp, potentially even to the $.45 mark.
The E calculation put the high around $.90 which it obviously shot past. This will be the first resistance point. I see the second resistance area around $.60-$.65 area, followed by a hard support at $.45.
As ENJIN has not been in this territory yet, I don't know how hard the token can push upward, so we will see!
As always, comments and ideas are welcome!
This information is not trading advice, only my personal opinion on potential market movements, and is for educational purposes only.
top weekly perfromance gainers on BINANCEthe crypto scanner on tradingview can be used to identify potential trades:
1. weekly performance has to be above 30%
2. a 20% pullback
3. new higher high than prior day
4. a pullback to a low risk entry POINT (POC)
5. target new high
ENJ - Enjin Feb 2021 OutlookWhen researching an asset you want to know that it is viable. Actually doing something. Has a purpose. Is being used.
$ENJ ticks the boxes.
Jan 19 2021
Enjin Coin (ENJ) Approved by Japanese Finance Regulators; Will Be Listed on Coincheck Japan
Jan 26 2021
"Coincheck is one of Japan’s largest licensed cryptocurrency exchanges by trading volume. It is registered by the Financial Services Agency (FSA) and operated by Coincheck, Inc. Beginning January 26 at 12:00 pm, users can purchase ENJ with JPY and trade it with BTC via Coincheck. This listing follows Coincheck and Enjin’s partnership to bring non-fungible tokens (NFTs) to Minecraft, announced in September 2020. NFT compatibility is slated to be added to Enjin's Minecraft plugin, “EnjinCraft,” later this month, with select NFTs sold on Coincheck’s upcoming marketplace."
SOURCE
At the end of the article it states:
"Over 40 game developers and enterprises are using the Enjin Platform to issue NFTs, including Microsoft, Minecraft servers, and games for PlayStation, PC, iOS, and Android. Enjin’s tech is also being harnessed by companies like BMW and Samsung. As the number of projects and companies adopting Enjin increases, more ENJ will be locked in blockchain assets, thereby removing it from the market and increasing its scarcity."
Applying a repeated bar pattern lifted from Dec 2018 and 2019 there is an uncanny correlation. Both patterns suggest a $1 USD minimum by Feb 2021.
BULLISH
TP1: 0.95
TP2: $1.10
TP3: $1.35
TP4: $1.68
ENJIN- Buy again now or at 80 centsOur updated chat on Enjin.
Price is growing in a SUPER-HEALTHY manner, previosu resistance has been checked as a support BUT I would be buying again at 80 cents IF it drops there(major support is there and it has not been checked)
ENJ USD one of the few tokens worth your timeA fantastic project constantly in development with real world use.
I think there is still time for entry just below current price.
Dashed white lines are my take profit
Dynamic RSI Zones indicator by Cryptorhythms
DRSI settings
RSI 14
Overbought Decay 60
OversoldDecay 60
TF 3D
t.me
For more information join the CryptoRhythms Telegram group and tell them Flinty sent you
ENJIN - We expected a bird 🐣🦅 We got a ROCKET 🚀o m g !
I guess we did very well with this one, we knew it's a GREAT one and we used our charts right for excellent entries.
I Love these days,
the FXPROFESSOR 🚀🚀🚀
hope you kept a eye on this ... boomThe last time was a legendary call, here's some more we took all-time high. and got supported, bought more.
ENJIN TakeoffDemonstrating the price movement preempting the golden crosses
Demonstrating similarities and differences within the RSI
Free MA's is what we want, and ENJIN has achieved this
Rocket emojis?
ENJ Long Term TrendEnjin Coin has had a solid long term uptrend building since late 2017.
It faced huge drops of between 95-50% in a year which are consistent with many other altcoins.
It pumped early and pumped hard this bull market.
Many traders will be taking profits right now. Some bagging the 500% gain from the past quarter.
If I were to enter I would wait for a dip below the upper channel. Which may or may not come after it loses steam from the breakout.
Bitcoin appears to be about to take another leg up, so I wouldn't be betting against this market.
However, I do think that capital would be better placed in tokens that haven't just run +500% to the upside.
The safest time to get on a rocket is before it takes off.
ENJUSD - Great Buying Opportunity Coming IMO!ENJUSD has been one of the best low cap gems out there!
Recently both the USD and BTC side closed with shooting star candles on the daily chart.
Cutting to the chase - I would suspect that ENJ could potentially give people an opportunity to get in as low as 28 cents if the stars align here. I'm just seeing a good amount of confluence close to 28-40 cents. I've seen lower possibilities, but I don't see those as probable as this.
As with the BTC side of Enjin, we haven't seen the volume that we did since late January in the bullish price action.
I would scale in from about 40 cents on down to 28 cents personally, but I am open to suggestions.
Thank you!
