tip: frenzy of NFT's token ! ENJ/USDT analysis
Updated
-Non-fungible tokens (NFT) are digital assets that represent a wide range of unique tangible and intangible items, from collectible sports cards to virtual real estate and even digital sneakers.
❇️Why they're important
NFTs have become hugely popular with crypto users and companies alike because of the way they revolutionized the gaming and collectibles space. Since November 2017, there has been a total of $174 million spent on NFTs.
What Is 🌟Enjin Coin🌟?
Enjin Coin is a cryptocurrency for virtual goods created by Enjin. Enjin is the “largest gaming community platform online” with over 250,000 gaming communities and 18.7 million registered gamers.
The Enjin team is designing the coin completely around gaming with the goal of it being the most usable cryptocurrency for the industry. The project includes the Enjin Coin as well as a suite of software development kits (SDKs) that developers can integrate into their games and communities. Bringing blockchain to gaming helps to reduce the high fees and fraud that’s prevalent in the transfer of virtual goods.
❇️-in a sign of just how frenzied the trading action has become, the ENJ token, from a startup company called Enjin, shot up 50% to surpass a market valuation of $1 billion. CoinDesk reported that Enjin planned to roll out two new product offerings focused on NFTs. ENJ is listed on big cryptocurrency exchanges including Binance and FTX, and there’s even derivatives contracts that can be used to bet on the price.
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✅TECHNICAL ANALYSIS
As we can see in the weekly timeframe logarithmic chart , The current price roam about 1.21 $,
Enjin has been trapped in a symmetrical triangle for three years since 2018, when he was finally able to escape after an explosive movement.
Although the current price can be slightly corrected , but According to the last tall candle that has formed now, it is likely that it will reach the orange area directly to conquer the first target.
(even without pullback to triangle roof or green support again). Reaching the first target is not unlikely even in the short term, but the next goals depend on conditions of crypto market and the green market .
Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps), With proper capital and risk management and by setting stop-loss because everything in this market is based on probabilities and there is no certainty.
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
❇️Why they're important
NFTs have become hugely popular with crypto users and companies alike because of the way they revolutionized the gaming and collectibles space. Since November 2017, there has been a total of $174 million spent on NFTs.
What Is 🌟Enjin Coin🌟?
Enjin Coin is a cryptocurrency for virtual goods created by Enjin. Enjin is the “largest gaming community platform online” with over 250,000 gaming communities and 18.7 million registered gamers.
The Enjin team is designing the coin completely around gaming with the goal of it being the most usable cryptocurrency for the industry. The project includes the Enjin Coin as well as a suite of software development kits (SDKs) that developers can integrate into their games and communities. Bringing blockchain to gaming helps to reduce the high fees and fraud that’s prevalent in the transfer of virtual goods.
❇️-in a sign of just how frenzied the trading action has become, the ENJ token, from a startup company called Enjin, shot up 50% to surpass a market valuation of $1 billion. CoinDesk reported that Enjin planned to roll out two new product offerings focused on NFTs. ENJ is listed on big cryptocurrency exchanges including Binance and FTX, and there’s even derivatives contracts that can be used to bet on the price.
-------------------------------------------------------------------------------------------------------------------
✅TECHNICAL ANALYSIS
As we can see in the weekly timeframe logarithmic chart , The current price roam about 1.21 $,
Enjin has been trapped in a symmetrical triangle for three years since 2018, when he was finally able to escape after an explosive movement.
Although the current price can be slightly corrected , but According to the last tall candle that has formed now, it is likely that it will reach the orange area directly to conquer the first target.
(even without pullback to triangle roof or green support again). Reaching the first target is not unlikely even in the short term, but the next goals depend on conditions of crypto market and the green market .
Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps), With proper capital and risk management and by setting stop-loss because everything in this market is based on probabilities and there is no certainty.
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
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