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Enjin, an ecosystem for non-fungible tokens (NFTs), has now launched its parachain Efinity on Polkadot. As the first-ever NFT parachain to launch on the Polkadot network, Efinity will support CryptoBlades and its 1.1 million users, with additional commitment from over 100 games and apps. Fueled by the EFI token, Efinity is a Polkadot parachain purpose-built […]

The post Enjin’s NFT gaming platform launches on Polkadot with 100+ games & apps confirmed appeared first on CryptoNinjas.

The ENJ coin price breaks below the $2 mark indicating a potential bearish reversal with increased trend momentum. Will the downfall reach $1.5? Enjin is a program that lets developers to manage and create virtual goods and services on Ethereum blockchain. In pursuit of this, it has released software development kits that allow users to create digital assets using Ethereum and incorporate these into games and apps. ENJ allows developers to create objects for games via the Enjin platform. Let us move ahead to read about Enjin technical analysis. Past Performance of ENJ ENJ token price fails to overcome the selling pressure of the 200-day EMA at $2.15, resulting in a downfall of more than 15% in the past 48 hours. Moreover, the death cross increases the selling pressure. Therefore, the free fall may soon test the horizontal level at $1.5. ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price shows an increased selling pressure as the price breaks below the $2 mark. Hence, with the sellers gaining trend control, traders can find selling opportunities shortly. The Vortex indicator shows a potential trend reversal with the free fall in the ENJ coin prices as the VI lines approach each other to give a bearish crossover. Hence, the indicator indicates a downfall to the $1.5 mark. The RSI indicator shows a rise in the underlying selling pressure as the price falls 10% in the past 24 hours. Moreover, the slope crosses below the 14-day SMA and the 50% mark indicating a bearish continuation.  The Exponential Moving Average shows a death cross in the daily chart idnicating a rise in bearish powers. Moreover, the falling 100-day EMA may shortly give a crossover with the 200-day average.  In short, the increasing selling pressure overtakes the trend control and indicates high likelihood of bearish continuation in ENJ coin price. Upcoming Trend The ENJ coin price breaks below the $2 mark as the sellers regain momentum with the recent death cross. Therefore, the upcoming trend seems to be incredibly bearish.  Traders can find selling opportunities at current prices with a target of $1.50 and a stop loss above the $2 mark.

The post ENJ Technical Analysis: Death Cross Brings Bearish Reversal appeared first on Cryptoknowmics-Crypto News and Media Platform.

ENJ coin price action is under the influence of a bearish descending triangle pattern. Will buyers lose the $2.1 support as well? The Enjin blockchain ecosystem seeks to provide software solutions that enable anyone to build, trade, monetize and trade using blockchain. Established in 2009, Enjin is a part of the gaming industry. Its roots are in its first product, a gaming community platform dubbed the Enjin Network that grew into 20 million customers in the span of more than a decade. Enjin Coin is an electronic store of value that is used to protect the value of blockchain assets, such as Non-fungible Tokens (NFTs). Each asset created using the Enjin Platform contains ENJ, the minting resource that is kept in NFTs until taken out of circulation. Minting blockchain assets using the Enjin token offers a range of advantages for creators and users: Let us move ahead to read about Enjin’s technical analysis. Past Performance of ENJ The correction phase in ENJ is struggling to break down from the $2.1 support. However, the series of lower highs in the technical chart has revealed a descending triangle pattern. The pattern presents its neckline at the $2.1 mark, and the crypto traders should wait for the price to breach this support to get a sell signal. Furthermore, the decreasing volume activity within this pattern indicates the trapped momentum, which should outburst when the price escapes the chart pattern. ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price has recently faced another rejection from the descending trendline. The coin is currently approaching the bottom support after completing a falling three-method candle pattern. The crypto traders should closely watch for price action at this high area of interest. As the price might retest this $2.1 for another support. Crucial EMAs (50, 100, and 200) in the daily chart maintain a bullish trend as the coin price is still trading above the 200 EMA. However, the other EMA lines could interrupt any bullish attempt.  The RSI indicator (43%) moving below the neutral line indicates a bearish sentiment among the market participants. The RSI slope has dropped below the 14-day SMA line. The MACD indicator shows several crossovers among the MACD and signal line due to the consolidating price action. However, the price action is still under a bearish influence as these are roaming below the neutral line. In short, the price action resonating in the triangle pattern might have caused inactive momentum in the technical indicator. However, they still indicate an overall bearish outlook for the ENJ coin. Upcoming Trend The failure to sustain above the $2.1 support will boost the selling pressure in this coin and drop it to an even lower level, i.e., $1.75 or $1.5. Even though this pattern promotes the continuation of bear attacks. The final call depends on the price action, on which side it provides a breakout. Therefore, the crypto traders should be patient till the price doesn’t breach the bottom support($2.1). The ENJ coin price chart suggests the next support levels at $1.7 and $1.5. And, in case of a bullish reversal, the price can find resistance at $2.5 and 50-day EMA. At the time of writing, the technical analysis by TradingView shows a rise in bearish sentiments as it gives a “SELL” signal for the ENJ coin. Technical Analysis for ENJUSD

The post ENJ Technical Analysis: Descending Triangle Pattern Threatens to Extend Correction Rally appeared first on Cryptoknowmics-Crypto News and Media Platform.

Non-fungible token (NFT) ecosystem developer Enjin has invested in Unbound Finance to increase liquidity on Efinity, the former’s upcoming NFT parachain built on Polkadot.

The post Enjin invests in Unbound Finance to bring UND stablecoin to Efinity and Polkadot appeared first on CryptoSlate.

Enjin, the first dedicated blockchain allowing anyone to mint NFTs, has signed a partnership agreement with Virtual Worlds, a brand with over two decades of experience in capturing and sharing the world’s most impressive monuments in mind-blowing digital experiences.

The post Enjin & Virtual Worlds to release limited-edition NFTs of Egyptian monuments appeared first on CryptoSlate.

Why Enjin Coin (ENJ)?  Enjin coin with ticker ENJ is an Ethereum-based cryptocurrency and a Singapore-based technology company. The developers build it for gaming communities and also to service blockchain game developers. However, the proliferation of the NFT market increases the demand and utility for the Enjin project. Company  The company launched its ERC-20 token

The post Enjin Coin [ENJ] – Gaming, NFTs and 2021 Price Predictions appeared first on Coingape.

CryptoNinjas » Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin, the co-creator of the ERC-1155 token standard, today announced it is launching two scaling solutions to remove gas and support fungible and non-fungible tokens (NFTs) from any blockchain: JumpNet, launching on April 6th, and Efinity, launching later in 2021. JumpNet will use Proof of Authority (PoA) consensus logic on a private Ethereum-based blockchain to […]

CryptoNinjas » Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Adoption is a word you’ll hear on an almost daily basis in the crypto space. It can though mean different things to different...

CryptoNinjas » LABS Group to use Enjin blockchain issue NFTs representing real estate assets

Enjin, a blockchain platform ecosystem, and LABS Group, a provider of a digital property investment platform, today have announced a collaboration that will enable everyday people to buy fractionalized real estate assets for as little as 100 USD and increase accessibility to real estate investment, which has been largely reserved for established institutions and wealthy investors. […]

CryptoNinjas » LABS Group to use Enjin blockchain issue NFTs representing real estate assets

Gracone Inc, an educational platform highlighting the use of blockchain and non-fungible tokens, particularly in charity, is partnering with Enjin to launch the first Japanese NFT charity project via Kizuna, a hub that aims to change the society through sustainable development goals by leveraging on the blockchain, an announcement on Jan 18 reveals. Tokenizing ArtRead More

While Enjin’s roots stretch all the way back to 2009, us in the cryptoeconomy recognize it as the gaming platform that raised a ~$19 million initial coin offering (ICO) in 2017 and has been delivering blockchain-based gaming experiences ever since.  The project’s north star? To help anyone easily build games and other digital assets around [...]

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