Enjin (ENJ) Price Prediction : How high can Enjin go realistically?
This video talks about Enjin's Price prediction in this market cycle.
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Enjin Coin to give upswing another try
Enjin Coin price has rallied nearly 535% since February 28 as it set up multiple higher highs and higher lows. When trend lines are drawn connecting these swing points, an ascending parallel channel is formed.
At the time of writing, ENJ is trading around $3.03, vying for an upswing toward the upper boundary. The supply zone ranging from $2.46 to $2.92 was recently flipped into the demand zone as Enjin Coin price surged nearly 100% from April 7 to April 9.
Investors can now expect a healthy retest of this area before heading higher. The immediate resistance level formed after the 96% upswing in price between April 7 and April 9 at $3.59 is the first level Enjin Coin price will most likely target. If the market participants refrain from booking profits here, ENJ might rise 10% to hit the recently formed top at $3.98.
Adding credence to the bullish narrative is the Momentum Reversal Indicator’s (MRI) reversal signal presented in the form of a green ‘one’ candlestick on the 12-hour chart. This technical formation indicates the exhaustion of a downtrend and the start of a new uptrend. The setup also forecasts a one-to-four candlestick upswing.