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      Enjin Coin (ENJ) – Bulls to lead ENJ towards $12 - Stocks Telegraph

      By Muskan

      Published on

      July 12, 2021

      7:26 AM UTC

      Enjin Coin (ENJ) – Bulls to lead ENJ towards $12 - Stocks Telegraph

      Enjin coin (ENJ) had been one of the well performing cryptocurrencies in the past week. ENJ crypto had gained by nearly 20% in the past seven days. It has embarked on an upward trajectory with the bulls in power in the market. At the time of writing, Enjin Coin stands at a price level of $1.36. The price has increased by nearly 5% in the past twenty-four hours alone while the trading volume had been dropping.

      Enjin Coin (ENJ) technical analysis

      The market sentiment for the sixty-ninth largest cryptocurrency is bullish on account of the uptrend. Out of the total twenty-six technical indicators, twelve are giving out a signal of buy with nine indicators standing at a neutral position and only five at a sell position. The oscillators are neutral while the moving averages are bullish.

      Enjin Coin (ENJ) technical analysis
      Enjin Coin (ENJ) technical analysis

      The recent bullish momentum in the market for Enjin Coin has led to optimism about the future. Enjin Coin had been identified by a trader to be operating in a triangular formation. However, the bullish momentum has also led to the cryptocurrency forming an ascending channel inside the triangular formation.

      Enjin Coin can be observed moving near the upper boundary – the strong resistance level – of the triangle. A break from the triangle to the upside will further boost the bullish momentum. However, it is expected that Enjin Coin will not be successful in breaking the resistance as of yet. But it will ultimately break out of the formation to the upside. The price target has been set at $12 for Enjin Coin.

      Enjin Coin (ENJ) price prediction

      Wallet investor furthers the bullish price prediction of the technical analysis. Per their estimates, Enjin Coin will be treading close to $12 in five years’ time. The price after one year is expected at $2.70. According to the estimates of Digital Coin Price, Enjin Coin will end the year with a price of $2.29 while the price in 2028 is expected to be $6.8.

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