Enjin Coin ENJUSDT Trade PlansBULLISH
1)HH and HLs.
2) Fib level 0.5 support at 3.43
Bearish
1) Bearish Engulfing at 3.8
2) Resistance at 3.62
3) Closed below Trend line
Trade Plan 1
Short from current price with tight stop loss
1) Entry 3.6
2) Stop Loss 3.7
3) Take profit 3.45
Trade Plan 2
Long if hourly candle closes above 3.65
1) Entry 3.65
2) Stop loss 3.43
3) Take profit 3.9
Enjin
ENJ/USDT CorrectionAs you can see ENJ has completed its fifth growth wave and entered a correction. There was also a bearish crossover on the WT cross and a bearish divergence was applied. On the ADX you can see that the bears are pushing into the market and the bulls are letting them have it. My assumption is that wave B should be slightly higher than the fibbo level of 0.236. Wave C should end up between wave 1 and wave 4.
ENJ Enjin Strong :)Enjin is taking off with the rest of the gaming coins :) Daily chart looks strong for upwards movement ...
ENJ/BTC Long Metaverse NFT Gaming trendAs you can see it the chart, ENJ has a long side way of accumulation zone with btc pair. Last peak of ENJ/BTC is at Mar2019 and try to break resistance again at Apr2021 but both are fail.
Now, We have a first green weekly candle that can stand above resistance (5200 satoshi). (First time)!!!
Metaverse, Gamefi and NFT is a mega trend now and enjin team always focus to integrate all of them.Therefore, It is very interesting to watch out ENJ very very closely.
My theory of enjin movement is
1. Test resistance again by touching around 5200 satoshi and bounce to ATH ( Most likely)
2. Break second resistance (7000 satoshi) weekly green candle has to stand above second resistance(7000 satoshi).
3. Fail break out and back to accumulate zone again. If weekly candle is under 5000 satoshi, I may decide to cut loss.
Hope to get 3-5x like mana and sand did.
ENJ / USDT Breaking Resistance May Be Ready Now For Another MoveCharts published are based on technical factors using patterns, structures and price action and no chart is 100% guaranteed and market volatility can change the trade setups or plans anytime. We share the charts and analytics for education purposes while you should follow them at your own risks. We always recommend doing your own analysis before investing in high risked market instruments.
Not a Financal Advice.
Enjin (ENJ) - May be ready now for another move upENJ has pulled back with much of the market, Meta and gaming began pulling back slightly earlier as investors appeared to be cashing profits and rolling back into BTC recovery before BTC sharply dived taking the market with it, coinciding with reports of new COVID strain which no doubt bears have made the most of with some aggressive selling to drive FUD
Yet ENJ has held this trend and is now hoping to break upwards through this declining resistance, buy the retest or wait for it to break above last swing, still may break down and trade lower as sellers are still very active
Indicators look good, hopefully it can continue to push up
ENJ / USDT 4H - falling wedge, breaking resistanceWow, what a black Friday sale on most cryptocurrencies today. ENJ / USDT has performed remarkably over the past few days. As most cryptos have fallen today, so has ENJ. I expect that this likely will continue its upward trend, as it is currently trying to break the resistance. Here seen in a narrow falling wedge.
If the price breaks the upper line of the falling wedge - I recommend that you wait for a solid confirmation - then enter a long position.
Take profit ideas:
TG1 - 4.3$
TG2 - 4.5$
TG3 - 4.75$
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I keep it simple and clean!
Likes, comments, and follows are dearly appreciated.
Let me know what you think and which ones you would like for me to analyze next.
Trade safely!
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About Enjin:
"Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin's flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores.
Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value."
Source: Coinmarketcap.com
ENJBTC Resistance Turned SupportI have found two examples on the chart using Gann that portray a prior resistance turned support
This is a common price action feature
Also as price has consolidated above (8/1) I see a bigger Moonshot coming
As shown by the bars pattern and the rough sketch of how the indicator may evolve
All the way to ATH in this MonthLow MAK CAP compare to other Metaverse Coins. Once it breaks the channels $3.20 it's gonna hit $4 Mark. In Short term, this will hit $3.50 IMO. Not Financial Advice.
top gaming coin, at least should beEnjin is bullish both scenario, Ehereum is the king altcoin not giving a sh*t what he's supposed to do according to bitcoin...
#ENJIN Cup and Handle Coincides with a Target of $6.30#Enjin Cup and handle formation is complete a high probability of Testing $6.30 in the near term.
Traders should follow strict stop loss as gaming projects space is overheating.
#SAND an exception as it is supposed to deliver on the 29th Nov 2021.
🕹️ ENJIN = Soon Top-15 🍊 Can ENJIN make it to TOP-15?
We think it will, the chances are increasing with the launch of smart contracts in the next 2 months(that's why it is trending), the launch of NFT.io and the fact that it is established as the LEADER in GAMING CRYPTO SPACE.
Metaverse is HOT and Enjin is involved in that too.
You can read a lot more on our previous Enjin posts below. Best thing about Tradingview is that it's all here, in one place. Nobody can fake it here since it's documented. :))) SUPER!
News:
🤖Enjin Forms $100M Fund to Support Metaverse Projects
The Efinity Metaverse Fund will aim to support work on metaverse projects on Enjin and Polkadot. www.coindesk.com .
Just another great development to support our analysis.🦾
Oh! and it's Carbon negative 🍏💚
Start your ENJINS if you haven't...
Get your ENJINS going if you have
the FXPROFESSOR 🕹️
(Once a gamer always a gamer)
Taking Another Look at ENJINA large curve (or parabola (I think)) can be drawn on the ENJIN chart, showing a previous point of resistance turning directly into a point of support
This point of support is further emphasized with a golden cross right on the line
This suggests the bull movement is not over, and price will continue to rise
The main structure can also be drawn as a symmetrical triangle, which also has a bullish nature
The circles I have mainly placed for fun, but a nice trendline up against the circles can be drawn, displaying the symmetry of the chart
I am long ENJIN
🕹️ ENJIN = Gaming Leader + NFT.io 🍊 (p2)Can ENJIN reach (Ripple XRP?
Our guess is YES, it should pass it to say the least.
facts: ENJIN will need to x16 from where it is today to catch XRP
Enjin has been and will be one of our top-5 favorites.
The price can keep growing (we see a target of 7$ for the next 5 months).
What's new?
Well here you go, this is a message from my direct communication with Enjin:
'' It's currently not possible to launch a token using Enjin.
Although we'll be releasing the smart contract feature for our sidechain, JumpNet . You'll be able to program smart contracts and release your own tokens.
enjin.io
We're looking to release it around the end of this year or early next year.
As for an NFT marketplace, we'll be launching nft.io You'll be able to set up your own marketplace. We're looking to launch it around the same time as the smart contact release''
Ladies and Gentlenmen,
Keep your ENJines going,
the FXPROFESSOR