Enjin Coin (ENJ) Price Prediction: Will It Soar To $0.542?

ENJ has retraced in the market within 24 hours of trading at $0.5002. The token rallied above the $0.2 level since January 11, 2023, and traded at $0.5144 on February 7, 2023. Despite the deviation from its all-time high value of $4.85, the token has recorded progress since January 2023.

Enjin Coin provides gamers with solutions on the Ethereum blockchain. It has gained popularity since its launch in June 2018. Enjin network gives real-world value to in-game tokens. But what’s the future like for the token since it hasn’t reclaimed its all-time high price yet? 

How Enjin Coin Is Preparing For Future Growth

Enjin Coin has a thriving community of gamers and crypto enthusiasts committed to its growth. But innovations, upgrades, and partnerships are necessary for any crypto to remain relevant. These improvements and upgrades sometimes influence the price of an asset. 

Here are the latest developments on the Enjin Coin network.

Enjin Development Updates For 2023

The Enjin team rolled out its development roadmap for the year in January 2023. The three major updates to the network are NFT.io. Enjin Wallet and Enjin Tooling. NFT.io is a marketplace for NFTs developed on a network packed with modern features. Some of the new features include Beam Support and developer infrastructure updates.

Our first developer update of the year is a big’n!

Not only is Enjin Wallet 2.0 out on iOS and Android, we’ve also got:

✅ Better Beam support on @nft_io
✅ Lots of updates for the Enjin Platform
✅ Minor fixes in the SDK

Visit 👉 https://t.co/WAPjuvgbxd pic.twitter.com/l6N5JYBhcj

— Enjin I We’re Hiring! 🙌 (@enjin) January 17, 2023

The Enjin wallet is available for Android and iOS devices. It is an advanced mobile application that helps users to store, send and sell NFTs. The upgrades for the wallet include improved Polygon NFT support and an upgrade to the Binance Smart Chain NFT support. 

Enjin tooling covers three categories, the Enjin platform, Enjin software development kit (SDK), and Enjin Beam.  

Subsquid Partners With Enjin Coin

Subsquid, the creators of squid SDK has partnered with Enjin for more innovative and productive solutions. Squid SDK is an open-source framework that helps Web3 builders create advanced indexers on a blockchain.

Enjin is home to NFTs, tools, and services for web3 activities and offers users its platform, Marketplace, wallet, Beam, and NFT.io. Efinity, a Web3 platform launched by Enjin, attracts benefits such as lower fees, smart contracts, and smooth operations.

This partnership will yield positive results for both organizations. Also, the increased awareness could be beneficial to Enjin coin’s price.

Enjin Price Prediction

ENJ has lost almost 5% of its price value in the market within 24 hours. From the daily chart, the price action is visible in the channel. It transitioned from an uptrend early in January to a downtrend in the first week of February. The bulls rallied again on February 15 to resume the uptrend and have sustained it since then. Despite the decline today, the asset remains in an uptrend.

The key support levels are $0.433, $0.456, and $0.488, while the resistance levels are $0.542, $0.567, and $0.599. The Relative Strength Index (RSI) at 59.07 is in the neutral zone. The indicator points downwards, reflecting the bearish pressure in the market today.

ENJ’s Moving Average Convergence/Divergence (MACD) is just breaking above its signal line. However, it has not given off a bullish signal since the MACD touches the signal line. 

But Enjin Coin is trading above its 50-day and 200-day Simple Moving Averages (SMA), a bullish signal. Moreover, from the price data on the daily chart, the last uptrend persisted for several weeks, from January 8, 2023, to February 7, 2023.

Despite the current price slump, Enjin will likely stay uptrend for the next few weeks and test the $0.542 resistance. Nevertheless, a price pullback is possible for the asset to rest on the $0.488 support.

Enjin Coin Alternatives

While Enjin Coin is down in the market today, crypto investors can profit from the hottest altcoin presales in 2023. Here are our top picks.

Metropoly (METRO)

Metropoly is the first NFT marketplace for real estate backed by physical properties. It can revolutionize the real estate industry by offering users features such as fractional ownership, instant liquidity, and real-time analytics.

The platform lets users invest in real estate worldwide with a minimum of $100,  a first of its kind. According to the platform, professional realtors will hand-pick the properties to ensure ROI. This is an ideal opportunity for making passive income and retaining long-term investment value.

METRO, the platform’s native token, is currently on presale and has raised over $526 shortly after its launch. The presale event is in its early stages, and each stage will usher in a price increase for the token.

C+Charge (CCHG)

C+Charge aims at reducing the carbon footprint with green energy initiatives. It provides an efficient charging system for electric vehicle (EV) owners through blockchain technology. The platform will be available for users on a mobile app for convenience.

Also, users can track the closest charging stations using this app. CCHG, the native token of the platform, will serve as payment for recharges. The platform will also complete a system check on electric vehicles to highlight maintenance areas. 

It is in the third presale stage, closing soon, and will go live on March 31, 2023. The presale has generated $1.28 million, with each token worth $0.016. The CCHG token will increase to $0.017 by the fourth stage of the presale.

RobotEra (TARO)

This play-to-earn gaming model will see players pick up roles as robots and compete to rebuild the planet TARO. Each robot in this ecosystem is an NFT that can be bought or sold within the community. 

Taro is currently worth $0.020 in its first stage of the presale. The price will increase to $0.025 by the second presale stage. Early investors can take advantage before the next round begins.