The Enjin Coin price prediction is currently pushing the coin above the $2500 resistance but still falls below the moving averages.

Enjin Prediction Statistics Data:

• Enjin price now – $0.31
• Enjin market cap – $345.1 million
• Enjin circulating supply – 1 billion
• Enjin total supply – 1 billion
• Enjin CoinMarketCap ranking – #132

ENJ/USD Market

Key Levels:

Resistance levels: $0.40, $0.42, $0.44

Support levels: $0.27, $0.25, $0.23

ENJ/USD begins a fresh increase today as the price rises toward the upper boundary of the channel. However, it is likely for the crypto to accelerate higher if it breaks the $0.35 resistance level. For the past few days, Enjin Coin has been hovering above the moving averages as any further bullish movement could place the Enjin Coin price on a recovery trajectory.

Enjin Coin Price Prediction: How Far Can the Enjin Coin Price Go?

At the time of writing, the Enjin Coin price is trading at $0.33 after adding 1.04% to its value. The strength of the coin may open the door for a massive recovery above the upper boundary of the channel. However, the potential resistance at $0.35 must be reached to pave the way for the impending action.

From a technical perspective, ENJ/USD is capable of tackling the hurdles above the channel as the 9-day MA remains above the 21-day MA. It seems as if the bulls may aim for a clear break to the upside, and the coin could hit the resistance levels of $0.40, $0.42, and $0.44. Meanwhile, if the market price slumps to the downside, traders may locate the support levels at $0.27, $0.25, and $0.23 respectively.

ENJ/BTC Could Trade Bullishly

Against Bitcoin, the Enjin Coin price stays within the 9-day and 21-day moving averages, currently trading at 748 SAT and expecting a break toward the upper boundary of the channel. Looking at the daily chart, traders can see that the bulls are likely to push the market upward, and the next key resistance level may likely come at 950 SAT and above.

Meanwhile, on the downside, a possible drop toward the lower boundary of the channel could bring the market to hit the support level at 595 SAT and below. According to the moving averages, the 9-day MA may hover above the 21-day MA to trigger more bullish signals in the market.

Alternatives to Enjin

The Enjin price is likely to hold gains above the resistance level of $0.35 as the price faces the resistance level of $0.28. At the time of writing, the Enjin price is recovering above the 9-day and 21-day moving averages. Meanwhile, bulls must realize the need to cross and keep the price above the upper boundary of the channel before they can get to the potential resistance levels.

Nevertheless, while the Enjin coin maintains a prevailing bullish trend, buyers must take notice of the promising rise of the Bitcoin Minetrix token in the cryptocurrency realm. As a newcomer, Bitcoin Minetrix has rapidly garnered an impressive $4.9 million during its presale, highlighting strong early investor backing.

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• Source: https://insidebitcoins.com/news/enjin-coin-price-prediction-for-today-december-7-enj-technical-analysis