Price Analysis

NFT Space Outshines, Mana Price, ENJ Price Continue to Rally!

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Highlights

    Major NFT tokens experience a greater jump with the resumption of the bitcoin bull run

    Decentraland Price and Enjin Coin price continue to rally hard to keep the bullish momentum intact

Nonfungilble Token(NFT’s) Space Swings High

The non-fungible tokens are a special cryptographically-generated token that uses blockchain technology to link with a unique digital asset that cannot be replicated. In recent times, the NFT space has risen massively with most of the NFT’s have registered an average of 10% growth since the last working day.

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One of the NFT tokens, Chiliz topped the list of the highest gainers by rallying about 80% currently. Many tokens like MONA, CHR, CHADS, etc rallied more than 70% whereas tokens like SAND, PRT, MANA, etc rallied above 20%.

On the contrary, some of the coins like ENJ, MEGA, DGCL, etc that rallied hard from the past seven days seems to halted there bull run with a small margin of the surge. The jump is very negligible, less than 1% yet remains within the bullish range.

Decentraland(MANA) Price Explodes

MANA price had surged high initially with the rumours of Grayscale filing MANA trust. However, the rumours still remain under the mist, MANA price kept jumping since then. The price after a decent jump remained consolidated since the mid of Februvary 2021. 

mana price chart

However, a major push since the beginning of this month led the price to rally hard up to $0.4425 initially and later to $0.5960 after a slight pullback. The bullish momentum would be intact if the MANA price sustains strongly at these levels without a breakdown. 

At the time of writing, the MANA price is $0.5444 with a jump of 18.59% since the past 24 hours after having a magnificent jump of 95.96% in the past 7 days. The price is trending in the upper resistance level and the support level is standing firmly at $0.3576 initially and later at $0.2221.

Enjin Coin (ENJ) Price Relaxes Its Bull Run!

Enjin coin price had rallied high, scaling the NFT’s to the next level since the past week. However, since the early trading hours, the token trended in a very narrow region, also shredded some of its profits too.

enj price chart

However, despite a slight pullback, the RSI levels still remain within the bullish range indicating a probable bounce back after a slight correction. On the contrary, the correction phase needs to wind up soon without declining the price to a large extent to keep the bullish trend accelerated.

At the time of writing, the Enjin Coin price is $1.71 with a jump of just 1.17%, including a slight pullback. The price needs to break the upper resistance levels at the ATH somewhere around $1.99 and reclaim the lost position to form a new ATH. However, the support levels at $1.14 need to be maintained strongly without a revisit to keep the Enjin coin price rally intact.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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