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- ENJ is one of the top performers in the crypto market, up 45% in the last 24 hours.
- This rally may allow ENJ to reach $0.045 soon.
Enjin Coin (ENJ) continues to rally
Enjin Coin (ENJ) extends its gains, settling above $0.035 on Thursday following a 45% price increase in the past 24 hours.
This strong momentum is supported by both the chain and derivatives, and positive technical sentiment suggests that ENJ may continue its upward trend in the near future.
Data obtained from Santiment shows that Enjin Coin’s trading volume has risen to $216.97 million on Thursday, marking the highest trading volume since April 2025.
Meanwhile, CoinGlass data shows that ENJ’s Future Open Interest (OI) reached $74.68 million on Thursday, up from $19.82 million on Tuesday. A rise in OI indicates new money entering the market, which can push the value of the currency higher.
Even as the meeting takes place, traders remain cautious as the first signs of consumer fatigue begin to appear. According to CryptoQuant, there is an increase in trading volume, indicating a change in market sentiment.
In addition, the dominance of the sell side in futures and futures markets can indicate potential stress, indicating that the current rally may face resistance in the near future.
ENJ eyes also benefit after an increase of 45%.
The 4-hour ENJ/USD chart is strong and effective at 45%. The rally has pushed the price of ENJ above the short- and medium-term Exponential Moving Averages (EMA), leaving only the 200-day EMA at $0.035 as long-term resistance.
The Relative Strength Index (RSI) on the 4-hour chart reads 70, indicating a bullish trend. The Moving Average Convergence Divergence (MACD) histogram positive reversal reinforces growth.
If the rally continues, initial resistance is seen at the 200-day EMA at $0.035. If the daily candle closes above this level, it can advance its rally to the $0.051 resistance level, followed by the $0.066 and $0.082 areas.
However, if the bears resume, ENJ may face initial support at $0.031. The 100-day EMA at $0.024 and the 50-day EMA at $0.022, along with the lower lows at $0.019, form a very important area that will confirm further support in the near future.
