In this Enjin Coin technical analysis, we will examine the current price action, trading volume, key levels and indicators for ENJ-USDT. Enjin Coin is a gaming-focused cryptocurrency that leverages blockchain technology to provide gamers with unique in-game items and experiences. With ENJ, players can purchase, sell, and trade digital assets within the gaming ecosystem, creating new opportunities for both game developers and players alike. By utilizing non-fungible tokens (NFTs), Enjin Coin enables gamers to own truly unique digital assets that are stored securely on the blockchain.
Enjin Coin Price Overview:
As of May 14, 2024, Enjin Coin is trading at approximately 0.2792 USDT. Let’s dive into the detailed price action for ENJ-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.2794 |
| High (H) | 0.2855 |
| Low (L) | 0.2695 |
| Close (C) | 0.2792 |
| Volume (C) | 13,489,326.60 |
- Open (O): The opening price for today’s trading session was approximately 0.2794 USDT.
- High (H): Enjin Coin reached a daily high of around 0.2855 USDT.
- Low (L): The daily low for ENJ-USDT was approximately 0.2695 USDT.
- Close (C): At the time of analysis, Enjin Coin is trading near its daily close of 0.2792 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.07% |
| 3D Change (%) | -1.34% |
| 7D Change (%) | -3.62% |
| 30D Change (%) | -17.05% |
| 90D Change (%) | -14.59% |
| YTD Change (%) | -26.37% |
Over the past three days, ENJUSDT has dropped by approximately -1.34%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -3.62%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ENJUSDT maintaining a downward trend of approximately -17.05%, despite intermittent fluctuations. Examining the last 90 days, ENJUSDT has witnessed substantial fall of approximately -14.59%, reflecting strong long-term confidence. Year-to-date, ENJUSDT has steadily decreased by around -26.37%, 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-USDT 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 0.46526.
- Momentum score is -0.19678.
ENJ USDT Technical Analysis
Enjin Coin Trading Volume:
The trading volume for Enjin Coin (ENJ) over the past 24 hours has been significant, with approximately 13,489,326.60 USDT traded against ENJ. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 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-USDT is currently in the low zone, around 39.59299. This suggests that Enjin Coin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Enjin Coin (ENJ-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Acknowledge bearish outlook for Enjin Coin (ENJUSDT) at 2.79e-01 USDT with technical analysis, emphasizing weakened support and cautionary indicators.
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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.