Crypto Contest February 25: Enjin Coin
Enjin Coin (Binance: ENJBTC) has broken out of the triangle pattern in the weekly chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Enjin Coin began a wave one advance in November 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in August 2018. If this wave count is correct, Enjin Coin should be heading next towards the January 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Enjin Coin is a deflationary token and resource that can be used by developers, entrepreneurs, organizations, and individuals to create (“mint”) ERC-1155 tokens for the gaming, entertainment, and retail markets. You can view their December 2018 presentation below.
(Sources: Enjin Coin and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Enjin Coin will takeout the April 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Enjin Coin will drop below the August 2018 low".
If you think Enjin Coin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Enjin Coin will stay in a trading range between the August 2018 low and the April 2018 peak until April 1".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 5 AM EST February 26 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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Bonus 2
Upvote the right comment and the main post with at least $0.10 and you will get 3 x the winning prize.
Enjin Coin will stay in a trading range between the August 2018 low and the April 2018 peak until April 1.
Enjin Coin will drop below the August 2018 low.
Enjin Coin will takeout the April 2018 peak (6 voters as of 5 AM EST February 26: steemit.nemesis, reconnectnature, bitbrain, moeenali, ace108, galasek).
You won. Paid out from @maarnio1
Ah, good old ENJ! We go way back ENJ and I. I'm bullish on this one in the long term, so I'm voting for "take out the peak". This should be interesting to watch.
We sure did take out the peak.
It seems that the peak in early May is now acting as a support level after the big rise.
So far so good.
Indeed!
Oh hell yeah! I didn't expect it that fast!
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