Enjin Coin (ENJ), a key player in the Metaverse space, has injected vitality into the sector with its upward trajectory.
The Metaverse, previously a hot topic, has once again captured attention due to the price movements of ENJ. Climbing from $0.24 to $0.35, ENJ has reignited discussions about a potential Metaverse frenzy.
With a notable increase of 26.91 percent in just four days, ENJ stood out as one of the day’s top-performing coins. The question now is whether the upward trend for ENJ will persist.
What price points should Metaverse enthusiasts keep an eye on for ENJ?
Enjin Coin (ENJ) Chart Evaluation
After making a short-term bullish run to $0.268, ENJ managed to break through resistance levels and initial price points across various timeframes, only to encounter a hurdle at $0.35. This prominent Metaverse coin, following a minor retracement, is currently trading at around $0.33.
To sustain the current momentum in the Metaverse sector, ENJ needs to breach the following thresholds: $0.35, $0.369, and $0.387. Trading consistently above these levels could foster a positive environment in the short term.
However, potential depreciations in BTC, adverse developments within the ENJ ecosystem, or negative news from the broader Metaverse could undermine price stability.
In such cases, the critical support levels for ENJ to watch are $0.32, $0.292, $0.268, and the year’s opening price. In shorter timeframes, maintaining the $0.268 level is particularly crucial.
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