Enjin crypto (ENJ) has successfully seen a price increase of 64.4% from the swing low of $0.37 on the 19th June 2022. During the peak of the bull market in November 2021 Enjin crypto soared to an all time high of $4.85. We are currently trading at just $0.49 which could now potentially offer new investors a well timed entry into the crypto markets.

Presently, Enjin crypto is trading within a symmetrical triangle which could result in a bullish breakout to the upside. If Bitcoin can blast back through the $20,000 resistance level we might see altcoins follow. As a result I would speculate a short-term pump for Enjin crypto.

It is vital Enjin crypto can hold the $0.47 level to prevent further continuation to the downside. Is Enjin crypto now undervalued?

Cryptoassets are a highly volatile unregulated investment product.

Enjin Crypto Price Prediction 2022

It is quite normal for altcoins to correct beyond 90% during the bear market and extreme fear phase of a crypto market cycle. Enjin crypto has so far corrected 92% from it’s all time high. In May 2021 we experienced our first major wyckoff distribution phase. This resulted in a huge crypto crash and many retail traders were shaken out of their positions.

Following this major event Enjin crypto commenced in a parabolic rally rewarding investors 552% gains. We have not yet seen a new impulse wave or relief bounce for Enjin crypto. Whilst I do not speculate any new all-time highs at any time soon, I do think we could see a rather nice relief rally for some of the best crypto projects.


Enjin Crypto (ENJ-USD) – 4 Hour Time Frame

Residing within the symmetrical triangle pattern is also a descending channel for Enjin Crypto. We have just a few hours ago broken out of the resistance trendline of the descending channel. I would anticipate the next swing high to be around the top of the symmetrical triangle at around $0.55 over the next series of days.

If we can see bullish continuation to the upside for Enjin crypto I think a pragmatic target over the next few months would be around the $0.77 price levels.

Enjin Crypto Video Analysis

With the popularity of the metaverse and NFTs on the rise I feel confident that the floor price for Enjin crypto is very close for the crypto winter. For long-term holders, Enjin crypto could be seen as a medium-risk and medium-reward opportunity.

According to Coinmarketcap Enjin crypto is currently rank #75 in the crypto space and has a total market capital of $435 million. Seeing the market capital this low makes me feel bullish because we could easily see a 5-10x from these levels by the next crypto bull market.

What is Enjin crypto?

Enjin crypto is essentially an ecosystem of interconnected blockchain based gaming products. One of Enjin crypto’s flagship products is the Enjin Network. This is a social gaming platform where users can develop their own websites and clans, chats and even host their own virtual item stores.

Another unique selling point of Enjin crypto is that it 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. This means that items can be bought, sold and traded with real-world value.

The main objective for the Enjin blockchain ecosystem is that they strive to offer software products. These software products are designed to make it easy for everyone to develop, trade and market with blockchain.

Enjin Coin (ENJ) serves as a digital store of value used to back the value of blockchain assets like NFTs (non-fungible tokens). It is important to acknowledge every asset minted with the Enjin platform also contains ENJ.

With enough accumulation through the crypto winter Enjin could have a very strong future. I think we could potentially see Enjin crypto surpass it’s previous all time highs in the next crypto bull market.

Cryptoassets are a highly volatile unregulated investment product.

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