Enjin (ENJ) Price Prediction 2023-2030: Will ENJ Reach $1 Soon?

• Bullish Enjin Coin  (ENJ)price prediction ranges from $0.5 to $0.8.
• Analysis suggests that the Enjin Coin price might reach above $0.75.
• The Enjin Coin bearish market price prediction for 2023 is $0.05.

Enjin is an Ethereum-based platform that was started in 2017. Its native token is ENJ and is present in Ethereum and its blockchain.

Enjin investors are bullish on the token since it has a return on investment (ROI) of over 33 times in the past five years. The crypto bubble in 2021 led to an increase in the price of ENJ to its present all-time high (ATH) of $4.85, which was attained in November 2021. Irrespective of the recent crypto winter, ENJ investors are confident that the future of ENJ is bullish.

If you are interested in the future of Enjin (ENJ) and want to know the price analysis and prediction of ENJ for 2023, 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.

Enjin Coin (ENJ) Market Overview

What is Enjin (ENJ)?

Enjin is an Ethereum-based platform for fungibles and non-fungible tokens (NFTs) that was launched in 2017. Before its launch in 2017 as a gaming platform, Enjin was started in 2009 as a for-profit company. The co-founders of Enjin are Maxim Blagov and Wetik Radomski.

An initial coin offering was conducted for the Enjin token (ENJ), and $18.9 million was raised for $0.03 per ENJ. The total amount raised was worth 75041 ETH then.

The Enjin platform uses Enjin Coin (ENJ) and Efinity token (EFI). The function of the Enjin Coin (ENJ) is that it enables digital assets like non-fungible tokens (NFTs) to be added to the ecosystem; in contrast, the Efinity token (EFI) is used to fuel its decentralized metaverse platform.

The Enjin platform gives creators the necessary tools to create their own unique NFTs, launch it, and get them sold in the market. Users can also explore the non-fungible tokens by playing games and get rewarded with them.

Some of the top partners of the Enjin network include Binance, Crypto.com, Bloktopia, Microsoft, Spirit Clash, Blockchain.com, CoinMarketCap, Gamerse and others.

Enjin (ENJ) Current Market Status

The maximum supply of Enjin Coin  (ENJ) is 1,000,000,000 ENJ, while its circulating supply is 1,000,000,000 ENJ, according to CoinMarketCap. At the time of writing, Enjin Coin is trading at $0.2387 representing 24 hours decrease of 2.75%. The trading volume of Enjin Coin in the past 24 hours is $63,515,533 which represents a 396.5% increase.

Some top cryptocurrency exchanges for trading Enjin Coin are Binance, Bithumb, Uniswap (V2) and Balancer.

Now that you know Enjin Coin and its current market status, we shall discuss the price analysis of  Enjin Coin  (ENJ )for 2023.

Enjin (ENJ) Price Analysis 2023

Will the Enjin Coin blockchain’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the payment and crypto industry affect ENJ’s sentiment over time? Read more to find out about Enjin Coin’s 2023 price analysis.

Enjin Coin (ENJ) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average.

The above chart shows that ENJ has been losing value until the mid-week of June when the trend changed. There was a period of a small spike which was then followed by a period of consolidation. However, the consolidation phase was followed by another drop in prices. Currently, Enjin is retracing and falling down. It has just gone past the SMA and into the lower half of the Bollinger band. 

Nonetheless, the formation of the bullish hammer has something more to say. This could mean the end of the downward trend. Should the buyers step in, then, there is a high possibility that ENJ could rise and reach the SMA or maybe even go above it.

When looking at the longer timeframe for ENJ, we can see that ENJ is currently in a consolidation phase. Considering the previous consolidation phase, we could note that it was followed by a period of high volatility. Hence, this could be the calm before the storm. As such traders should be at the edge of their seats, gearing up for excess volatility.   Moreover, the Bollinger band with percentile indicator seems to be rising, this supplements the above thesis. 

Enjin Coin (ENJ) Price Analysis – Relative Strength Index 

The Relative Strength Index is an indicator that is used to measure whether the price of a cryptocurrency is over or undervalued. For this purpose, it has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought, which means that due to more buying the demand has increased as such the price has also increased. On the other hand, when it is oversold, many are selling, as such, its price is undervalued.

The above chart shows that the price of ENJ has been decreasing throughout the past. Currently, after experiencing seller pressure, it seems that some buyers have come to the market. Moreover, the hammer candlestick gives a glimmer of hope. As such, we could expect the RSI value to go up if the buyers keep entering the market. 

The RSI line is just above the Signal line and there’s also every chance it could fall below the Signal line if the sellers dominate the market.  

Enjin Coin (ENJ) Price Analysis – Moving Average 

The exponential moving average is not much different from the simple moving average. The EMA gives more weightage to the present prices while the SMA equally distributes the values to the frequency. Hence, when the EMA is plotted in the graph it gives a rough idea about how the cryptocurrency has been performing in the past. 

Moreover, the 50-day EMA is considered the short-term length, and the 200-day EMA is considered the long-term.  Whenever the 50-day EMA crosses the 200-day EMA from below it is called a Golden cross, while if it crosses from above, then it is a death cross. However, in this case, we will be using the 50-day EMA as the long-term length and the 10-day EMA as the short-term length.

Considering the above chart, we could make a succinct observation where the price of ENJ fell below both moving averages. It recently tested the 50-day EMA but was rejected as ENJ didn’t have the buyers to support it. However, at press time, the buyers seem to be entering the market, as such, there is a high possibility that ENJ could test the 50-day EMA once again. 

Enjin Coin Price Prediction 2023-2030 Overview

Enjin Coin (ENJ) Price Prediction 2023

When looking at the above chart, we can see that the Enjin coin has been trading inside a falling wedge. As per a conventional breakout, we could expect Enjin to surge. Hence, given that ENJ breaks out conventionally, there is a high chance that it could test the $0.5 resistance level. In the event that this level is breached, then, ENJ may target the $0.75 resistance level. Additionally, based on the spike ENJ produced during 2021, we could anticipate ENJ to reach $0.65. 

Contrastingly, if ENJ starts to crash when it is out of the wedge, then it may resort to support from the $0.14 level. If the above-stated level doesn’t hold ENJ prices, then, it would fall to 0.05 for support.     

Enjin Coin (ENJ) Price Prediction – Resistance and Support Levels

We could see that ENJ was rising during the latter days of December 2022. The coin rose from $0.2 and reached $0.5 by the end of February.  All the rising activity within the above-said timeframe happened above the 1:2 Gann fan line. However, after reaching the maximum price ENJ started to fall.  It fell just below the 3:1 Gann line at times breaking below it as well. Currently, as ENJ is moving sideways, we could expect the coin to keep on moving sideways. However, if the bulls dominate the market then there is a high chance that ENJ could reach the 3:1 Gann line.   

Enjin Coin (ENJ) Price Prediction 2024 

There will be Bitcoin halving in 2024. Hence, we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum for Enjin Coin based on the previous halving. Hence, we could expect Enjin Coin to trade at a price, not below $1 by the end of 2024.

Enjin Coin (ENJ) Price Prediction 2025

Enjin Coin may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, Enjin Coin will continue to rise in 2025 forming new resistance levels. It is expected that Enjin Coins will trade beyond the $5.3 level.

Enjin Coin (ENJ) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, Enjin Coin could tumble into its support regions. During this period of price correction, Enjin Coin could lose momentum and be way below its 2025 price. As such, it could be trading at $2.3 by 2026. 

Enjin Coin (ENJ) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, there’ll be a dip in price before the excitement will be reciprocated in EOS. As such, we could expect Enjin Coin to trade at around $0.5 by the end of 2027. 

Enjin Coin (ENJ) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, Enjin Coin may reciprocate its past behavior during the BTC halving. Hence, Enjin Coin would be trading at $2 after experiencing a considerable surge by the end of 2028. 

Enjin Coin (ENJ) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, Enjin Coin could be trading at $6 by the end of 2029.

Enjin Coin (ENJ) Price Prediction 2030

After witnessing a bullish run in the market, Enjin Coin and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, Enjin Coin could be trading at $4.4.

Enjin Coin (ENJ) Price Prediction 2040

The long-term forecast for Enjin Coin indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their Coins at the ATH point. 

If they start selling then Enjin Coin could fall in value. It is expected that the average price of Enjin Coins could reach $8.32 by 2040.

Enjin Coin (ENJ) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such Enjin Coin could reach $11.8.

Conclusion

If investors continue showing their interest in Enjin Coin and add these Coins to their portfolio, it could continue to rise. ENJ’s bullish price prediction shows that it could reach $0.75 level.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and affiliates will not be held liable for direct damage or loss.

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