In this Enjin Coin technical analysis, we will examine the current price action, trading volume, key levels and indicators for ENJ-BTC. Enjin Coin (ENJ) is a cryptocurrency that focuses on creating a blockchain-based gaming platform. With ENJ, gamers can easily purchase and sell digital assets within the game, such as skins, weapons, and other in-game items. The platform also allows developers to create and manage their own tokens, giving them more control over their games’ economies.
Enjin Coin Price Overview:
As of September 22, 2023, Enjin Coin is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for ENJ-BTC:
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Enjin Coin reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for ENJ-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Enjin Coin is trading near its daily close of 1e-05 BTC.
|1D Change (%)||-0.12%|
|3D Change (%)||-0.58%|
|7D Change (%)||-1.84%|
|30D Change (%)||-7.68%|
|90D Change (%)||-12.14%|
|YTD Change (%)||-41.35%|
Over the past three days, ENJBTC has dropped by approximately -0.58%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -1.84%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ENJBTC maintaining a downward trend of approximately -7.68%, despite intermittent fluctuations. Examining the last 90 days, ENJBTC has witnessed substantial decline of approximately -12.14%, reflecting strong long-term confidence. Year-to-date, ENJBTC has steadily depreciated by around -41.35%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Enjin Coin Live Chart:
You can access a live price chart for ENJ-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.62035.
- Momentum score is -0.07676.
ENJ BTC Technical Analysis
Enjin Coin Trading Volume:
The trading volume for Enjin Coin (ENJ) over the past 24 hours has been insignificant, with approximately 121,485.00 BTC traded against ENJ. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
- 50-day Simple Moving Average (SMA): ENJ is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Enjin Coin is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ENJ-BTC is currently in the low zone, around 43.04885. This suggests that Enjin Coin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Enjin Coin (ENJ-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.