Category: Enjin Coin

Top 3 Coins to Watch Today: EOS, ENJ, UNI – August 19 Trading Analysis

Post author By Malik Junaid
Post date August 19, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Eos (EOS)

EOS is a platform designed to allow developers to build decentralised apps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly. EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.

EOS Price Analysis

At the time of writing, EOS is ranked the 40^th cryptocurrency globally and the current price is US$1.45. Let’s take a look at the chart below for price analysis:

Source: TradingView

EOS has plummeted nearly 75% from its April 2022 highs and almost 90% from its May 2021 all-time high.

The closest resistance overlaps with the 8 EMA near $1.60, where the daily chart shows inefficient trading. This level rejected the price’s first retest on May 13.

Slightly higher, $1.78 offers the next noteworthy resistance. This area was inefficiently traded and overlaps with the last significant swing low in mid-March.

Last week, the price bounced from support near $1.30, which could provide support again. This level shows inefficient trading on the monthly chart and is near the midpoint of September 2017’s accumulation.

If this support breaks, bulls could find support near $1.24. This level is at the bottom of an inefficiently traded area on the monthly and weekly charts. It’s also the high point of October 2017’s accumulation range. However, eager bidders should be cautious as a move this low may be targeting bulls’ stops under the swing low at $1.12.

2. Enjin Coin (ENJ)

Enjin Coin ENJ is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores. Enjin Coin is a digital store of value used to back the value of blockchain assets such as non-fungible tokens (NFTs).

ENJ Price Analysis

At the time of writing, ENJ is ranked the 75^th cryptocurrency globally and the current price is US$0.6509. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent Q2 ranging between 31% over and 23% below. The price is currently consolidating between adjacent resistance and support at $0.6045 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $0.7295.

This move would likely target the swing high at $0.7612 and relatively equal highs near $0.8349. A sustained bullish trend could reach up to the monthly high near $0.9032.

Bulls may see a sweep of the relatively equal lows near $0.5532 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $0.4835 and $0.4150.

3. Uniswap (UNI)

Uniswap UNI is a popular decentralised trading protocol known for its role in facilitating the automated trading of decentralised finance (DeFi) tokens. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges. Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems that plagued the first decentralised exchanges.

UNI Price Analysis

At the time of writing, UNI is ranked the 17^th cryptocurrency globally and the current price is US$7.91. Let’s take a look at the chart below for price analysis:

Source: TradingView

UNI‘s 70% retracement from its Q2 highs set a low near $4.20 during its consolidation that began in early June.

Relatively equal highs near $8.00 could be the current target if the price breaks through resistance beginning near $8.67. Bullish continuation may reach through the next significant swing high near $9.35 into the daily gap near $10.50.

If bullish strength continues, the zones just below the monthly open near $10.88 and $11.35 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $6.90 into possible support near $6.12. If this down move occurs, the swing low near $5.20 and possible support near $4.80 may be the primary objective.

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Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Top 3 Coins to Watch Today: UNI, DOGE, ENJ – July 27 Trading Analysis

Post author By Malik Junaid
Post date July 27, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Uniswap (UNI)

UNI Price Analysis

At the time of writing, UNI is ranked the 19^th cryptocurrency globally and the current price is US$6.41. Let’s take a look at the chart below for price analysis:

Source: TradingView

UNI‘s 70% retracement from its Q2 highs set a low near $3.80 during its consolidation that began in early June.

Relatively equal highs near $6.80 could be the current target if the price breaks through resistance beginning near $6.97. Bullish continuation might reach through the next significant swing high near $7.20 into the daily gap near $7.50.

If bullish strength continues, the zones just below the monthly open near $7.88 and $8.23 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $5.90 into possible support near $5.62. If this down move occurs, the swing low near $5.32 and possible support near $4.93 may be the primary objective.

2. Dogecoin (DOGE)

Dogecoin DOGE is based on the popular “Doge” internet meme and features a Shiba Inu as its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme.

DOGE Price Analysis

At the time of writing, DOGE is ranked the 10^th cryptocurrency globally and the current price is US$0.06089. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOGE marines continue holding the price, printing nearly 29% gains during June.

The consolidation near $0.06015 is likely to provide support as the price continues exploring new highs. However, a set of relatively equal lows near $0.05829 provides a tempting target for a stop run into probable support near $0.05460.

A decidedly bearish shift in the market could reach probable support near $0.05098, near the monthly open.

Almost no resistance lies overhead, although low-timeframe traders can use the resistance below recent highs near $0.06384 as a first target. Beyond this level, extensions near $0.06723, $0.07354 and $0.08169 give reasonable higher-timeframe targets.

3. Enjin Coin (ENJ)

ENJ Price Analysis

At the time of writing, ENJ is ranked the 70^th cryptocurrency globally and the current price is US$0.5357. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent Q2 ranging between 30% over and 20% below. The price is currently consolidating between adjacent resistance and support at $0.5145 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $0.6395.

This move would likely target the swing high at $0.6512 and relatively equal highs near $0.7049. A sustained bullish trend could reach up to the monthly high near $0.7432.

Bulls may see a sweep of the relatively equal lows near $0.4832 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $0.4435 and $0.4050.

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Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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Top 3 Coins to Watch Today: HBAR, CRO, ENJ – July 7 Trading Analysis

Post author By Malik Junaid
Post date July 7, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Hedera (HBAR)

Hedera Hashgraph HBAR is a public network that allows individuals and businesses to create powerful decentralised applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations older blockchain-based platforms face, such as slow performance and instability. The HBAR token has a dual role within the Hedera public network.

HBAR Price Analysis

At the time of writing, HBAR is ranked the 38^th cryptocurrency globally and the current price is US$0.06191. Let’s take a look at the chart below for price analysis:

Source: TradingView

HBAR‘s 55% Q1 run retraced almost to its origin, narrowly missing probable support near $0.6295 before bears swatted down the bounce near resistance around $0.07589.

With the daily gap between $0.05912 and $0.05750 almost filled in a single wick, the price may not need to revisit areas below this level. However, the safer entry is still in probable support between $0.05523 and $0.05100, which would also sweep the lows of last week’s bounce.

The relatively equal highs near $0.06954 provide a likely first target on lower timeframes. However, the resistance beginning at $0.07315 may initially suppress a further move up.

A clean break through this resistance will need to contend with the next resistance near $0.07692, under the last swing high. This swing high at $0.07950 gives a reasonable take-profit area before a possible move to the 1.0 extension near $0.08256.

2. Crypto Coin (CRO)

Crypto.com coin CRO is the native cryptocurrency token of Crypto.com Chain, a decentralised, open-source blockchain developed by the Crypto.com payment, trading and financial services company. Crypto.com Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data, and protecting users’ identities. The CRO blockchain serves primarily as a vehicle that powers the Crypto.com Pay mobile payments app.

CRO Price Analysis

At the time of writing, CRO is ranked the 22^nd cryptocurrency globally and the current price is US$0.1174. Let’s take a look at the chart below for price analysis:

Source: TradingView

CRO has been trading sideways after Q1, reaching nearly 35% percent within a few weeks as it blasted through its old monthly highs.

This fast move left little compelling higher-timeframe support near the current price. A level near $0.1022, which has confluence with the 8 EMA and 127% extension of H2 2021’s swing, could provide support.

Further below, near $0.09231, 2021’s previous monthly high could also provide some support on a retest. The last consolidation before the breakout, near December’s open, might give the most substantial support. However, this would require significant retracement from the current price point.

While next targets are impossible to predict, extensions from Q1 2022’s move suggest that the 40% extension, near $0.1475, could provide some resistance. Above this level, the 48% extension near $0.1648 could also trigger bulls to take profits.

3. Enjin Coin (ENJ)

ENJ Price Analysis

At the time of writing, ENJ is ranked the 75^th cryptocurrency globally and the current price is US$0.5379. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent Q2 ranging between 30% over and 23% below. The price is currently consolidating between adjacent resistance and support at $0.6045 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $0.6495.

This move would likely target the swing high at $0.6912 and relatively equal highs near $0.7249. A sustained bullish trend could reach up to the monthly high near $0.7532.

Bulls may see a sweep of the relatively equal lows near $0.5142 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $0.4835 and $0.4130.

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Top 3 Coins to Watch Today: DASH, ENJ, ANKR – February 28 Trading Analysis

Post author By Malik Junaid
Post date February 28, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Dash (DASH)

Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network that is decentralised in nature. According to the project’s white paper, Dash seeks to improve on Bitcoin by providing stronger privacy and faster transactions. Dash’s governance system, or treasury, distributes 10% of the block rewards for the development of the project in a competitive and decentralised way.

DASH Price Analysis

At the time of writing, DASH is ranked the 80^th cryptocurrency globally and the current price is US$93.13. Let’s take a look at the chart below for price analysis:

Source: TradingView

During January, DASH retraced over 45% before finding support near $90.13 Consolidation above this level has created a series of relatively equal lows, which are likely to be swept before any longer-term bullish trend begins.

In the shorter term, the price might establish support near $92.50 before running the swing high at $106.88. If this bullish move occurs, the price could reach resistance near the weekly open around $115.43, and may even sweep the swing high near $123.22

Some support might exist at the daily gap near $87.12. A move this low would also fill the monthly gap and set the stage for a possible bullish reversal.

2. Enjin Coin (ENJ)

ENJ Price Analysis

At the time of writing, ENJ is ranked the 67^th cryptocurrency globally and the current price is US$1.45. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent February ranging across the monthly open, reaching 30% over and 23% below. The price is currently consolidating between adjacent resistance and support at $1.45 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $1.95.

This move would likely target the swing high at $2.12 and relatively equal highs near $2.29. A sustained bullish trend could reach up to the monthly high near $2.35.

Bulls might see a sweep of the relatively equal lows near $1.42 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $1.38 and $1.30.

3. Ankr (ANKR)

ANKR originates as a solution that utilises shared resources in order to provide easy and affordable blockchain node hosting solutions, it has since built a marketplace for container-based cloud services through the usage of shared resources. It is a platform that enables the sharing economy, where any customer can access resources at a more affordable rate, while also providing enterprises with the ability to monetise their spare computing power that is not being utilised. It is unique in the way that it is the first to use trusted hardware, and this ensures a high level of security.

ANKR Price Analysis

At the time of writing, ANKR is ranked the 107^th cryptocurrency globally and the current price is US$0.06559. Let’s take a look at the chart below for price analysis:

Source: TradingView

ANKR continues to set monthly lows in its downward trend.

Support might be found in the daily gap above the monthly open near $0.06295. A deeper retracement is likely to target the relatively equal lows into support near $0.06125.

The daily gap near $0.05966 could also provide support. However, another gap inside the down candles, around $0.05732, provides the highest chances of solid support while offering a high risk-reward entry.

There is currently no resistance overhead since the price is in discovery. Extensions hint at the areas around $0.06895 and $0.07244 as reasonable take-profit zones.

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Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.