Enjin Price Prediction: ENJ on the Verge of 31% Launch to $4.179

Enjin price has been riding on the excitement surrounding the Metaverse and gaming blockchain and crypto projects that was initiated by Facebook’s Meta rebrand. ENJ is up 8.37% over the last 24 hours and over 22% over the last seven days. The coin of the blockchain-based gaming network now has a market cap of $$2.67 billion, ranking it the 62nd most valuable cryptocurrency according to data from CoinMarketCap.

Enjin price could lift from the ascending triangle to $4.179

Solana price currently has been experiencing a dwindling trading volume from October 30, as seen on the four-hour chart. Even so, its price has made a series of higher lows since bouncing off the $2.25 support level. On the downside, the support around $3.03 has appears robust, pointing to a bullish ENJ.

Enjin’s price action has formed an ascending triangle on the four-hour chart. A horizontal line drawn along with the swing highs makes the x-axis, while a rising trend line drawn along with the swing lows is the triangle’s hypotenuse.

An expected spike in the buying pressure behind cryptocurrency will likely allow bulls to crack above the overhead resistance of the x-axis. Here, Enjin could shoot 31% based on the ascending triangle formation, as illustrated.

Note that ascending triangles have precise targets determined by measuring the distance between the highest and lowest points and adding it to the breakout point. Hence, the prediction for Enjin price upswing to $4.179.

ENJ/USD Four-Hour Chart

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