Leading GameFi platform Enjin (ENJ) saw a massive 20% pump yesterday on the back of bullish FOMC news. Now, the price has retraced back 4%, with bulls wondering whether it’s time for the next leg up.
Enjin (ENJ) has seen an impressive 2023 so far, forming a bullish trading channel after a rally ignited in January.
The steadfast bullish technical structure is solid and could set the stage for ENJ to reclaim past heights.
Enjin is a platform focused on equipping GameFi developers with the tools they need to build on the back of Ethereum.
Enjin (ENJ) Price Analysis
As the New Year broke the ice of a difficult crypto winter for Enjin, January saw a steady 82% climb.
A period of consolidation into February carried price action for three weeks. Until a 20% breakout candle sent ENJ rocketing yesterday.
This was fuelled by bullish development news published by CoinMarketCap’s spotlight report. And emboldened by positive sentiment from the FOMC meeting.
A strong support level has emerged from the three weeks of consolidation above $0.45.
With price action primed, Enjin is targeting upside potential to $0.70 (+35%) – a historic level last seen in August 2022.
How High Could Enjin (ENJ) go?
As for indicator signaling, the RSI is on the fence at 52.
It is noteworthy how quickly the RSI was able to cool off from yesterday’s pump, suggesting there is strong momentum behind this rallying price action.
The MACD provides slight reassurance showing minor bullish divergence.
With nothing to indicate concern, it seems likely Enjin’s recovery rally is set to continue – providing fundamentals remain unchallenged.
And with a Risk: Reward structure of 2.55 – an attractive entry characterized by limited downside risk – Enjin bulls are on parade.
But with GameFi anticipated to become a breakout crypto sector, with an estimated future market cap of $38bn by 2008, what other GameFi tokens could see big returns this year?
Walk the Way of the Warrior: Fight Out (FGHT)
With the play-2-earn narrative firmly back in market view following the STEPN airdrop, many investors are looking to find safer GameFi trades with better upside potential and less precarious price action.
One solid contender garnering significant attention on crypto Twitter is Fight Out (FGHT).
Positioning itself as a more advanced and better-developed STEPN, this new play-2-earn dApp aims to take you on a journey to becoming your ultimate fighter self.
Where STEPN failed – with one-dimensional pedometers measuring step count and an overpriced ecosystem that forced players into heavy transactions to unlock any real return.
Fight Out aims to achieve success by providing a sophisticated and versatile application that can gauge and incentivize various types of physical activity, ranging from boxing workouts to late-night weightlifting sessions at the gym.
All of this is based around a soulbound avatar (think of this like a STEPN sneaker that can’t be bought or resold) – custom designed by the player, this NFT embodies the user’s fitness journey.
As you train and work out, this is recorded, and levels up your soulbound avatar’s stats in real-time – while also earning you in-game $REPS tokens.
These $REPS tokens are redeemable for network native $FGHT, which can be cashed out, spent in the NFT marketplace, or put up for grabs in high-stakes PVP community competitions that pit you against other users to see who can train hardest that week.
What’s more? As part of an emphasis on community development, Fight Out has partnered with a number of elite athletes to lead community training sessions, including world champion boxer Savannah Marshall.
To make the most of the Fight Out presale you will need to act quickly, with more than $4.65 million raised and presale token prices increasing incrementally every 12 hours in a fair launch.
The Fight Out team recently announced the launch of a lucrative referral promo link program. This gives users the ability to receive a 5% commission for signing up their friends.
All users need to do is go to the Fight Out homepage, connect a valid crypto wallet, and then click on the 5% referral link button.
At this point, a unique referral link will be generated to earn you commission. Share the link with friends and family or post it to your social media.
This means every time someone buys the $FGHT token – you receive 5% of the purchase amount.
C+Charge ($CCHG) is a new cryptocurrency that’s shaking up the carbon credit industry.
This innovative start-up aims to take advantage of projected $2.4 trillion growth in the industry by 2027. And you don’t have to look far to see its relevance.
Up and down the roads, electric vehicle (EV) charging stations are popping up for fleets of gleaming Teslas and other EVs – C+Charge is proposing a chance for everyday people to claim a slice of the pie.
The company offers a Peer-2-Peer (P2P) payment system for Electric Vehicle (EV) charging using blockchain technology.
With this system, EV drivers can earn carbon credits and profit from the industry’s growth.
Currently, only big EV manufacturers like Tesla are taking advantage of carbon credits. Why should these profits centralize in the hands of a few?
C+Charge aims to level the playing field and put these rewards in the hands of EV owners – and investors are excited with more than $1.56m raised.
The presale of the CCHG token is already underway, giving early investors a chance to get in on the ground floor of this eco-friendly project. There is also a $50k giveaway for early bird investors.
Join the C+Charge revolution today and be a part of a project that’s making a difference for the environment.
RobotEra is a GameFi project that allows players to design and build their own robots – taking them to battle in a variety of games and challenges, including races, battles, and strategy games, where players can put their robots to the test.
The platform allows players to earn rewards in the form of network native $TARO tokens, which are used to buy and sell virtual assets and settle platform fees and rewards.
RobotEra is currently in presale, an opportunity for interested investors to buy $TARO before it is publicly available for trading.
The presale offers TARO at a discounted price of 0.02 USDT per token, with a minimum purchase requirement of 50 USDT.
The presale has a limited supply of only 45,000,000 $TARO tokens left, and the first stage of the presale will end soon as whales are in an accumulation frenzy.
The presale is divided into two stages, with the second stage offering $TARO at a higher price of 0.025 USDT per token.
So, investors can get a better deal if they buy TARO during the first stage of the presale.
As of the time of writing, the presale has already sold 46,989,818 $TARO tokens – many gobbled up by shrewd GameFi whales.
Investors can purchase $TARO tokens during the presale using the link below.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
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