🌳ENJ's Expected Movement in near FutureHello every one
ENJIN COIN / TETHERUS
ENJ is a Great Asset Which Has been quite Profitable in The Past few months But Right now a Heavy Correction wave has been Accrued. We can See Some bullish Signs on the chart. as you Can See The Price is Now at It's Major Support zone which is quite a Strong Support as well around 2$. The Bearish Trend Line (White Line) Is Gonna Cause Some Problem For Bulls Because If we Consider The Trend Line & The Support zone, we Can come To a Conclusion That The Price is in a Descending Triangle. But It's Not That Bad, because There is a Regular Bullish Divergence (+RD) On MACD which Suggest a Bullish Movement Is Coming. So If ENJ manages To Break The Bearish Trend Line, It can Easily Reach the Resistance Zone Drawn on The Picture. (around 3.5$)
What Is Enjin Coin (ENJ)?
Enjin Coin 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 allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value.
Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018.
Enjin Coin (ENJ) is a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs). Every asset minted with the Enjin Platform contains ENJ, a minting resource which is locked inside NFTs and removed from circulation. Minting blockchain assets with ENJ provides a variety of benefits to creators and users:
Infuses them with a reserve value
Ensures their transparency and scarcity
Gives them instance liquidity
Provides utility in games and apps
Anti-inflationary
Enjin's "melting" functionality allows users to destroy their blockchain assets at any time to retrieve the ENJ value from within.
🔴This is only an idea and not a financial advise ( NFA )🔴
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