Enjin Coin (ENJ), a token with an Ethereum-based blockchain platform designed for the gaming industry, when we look at the coimarketcap values, the ratio of the maximum circulating supply to the total supply in both the nft and metaverse groups is about 87%, as well as a market with more than 20 million players worldwide. In the light of the data, we can see that it is a market that adapts to the community.
In 2021, Enjin (ENJ) came to the fore with the news of the announcement of “Efinity’s $100 Million Metaverse Fund Before Polkadot Parachain Slot Offer”.
In addition, the fact that Samsung, one of its important companies in partnership with $ENJ, started to get involved in the metaverse and NFT industries at the beginning of January showed that the interest in this market is increasing.
So where is the technical data?
When we look at the ENJ/USDT parity on a daily basis, it has been in a falling trend since November 25.
It lost nearly 70% of its value with the loss of the $2.16 key support zone.
appears as a parity.
When we look at the data in the past, we can see that the price has approached the $1.19 region, which it made in September, and approaching the oblique support region at the same time.
In the case of the first scenario, the above-mentioned resistance levels can be followed in the first place, by reacting and operating this area in line with the pressure of the buyers and breaking the oblique resistance.
In the second scenario case, a pullback to the $0.7 and $0.9 support areas can be seen with the loss of a key support area.
We can see that the Enj token, which is both nft and metaverse tokens, in accordance with the markets, with the upward price movement of Bitcoin and its positive reflection on the altcoin market, a positive reflection and movement will be possible for Metaverse coins.