The all-time chart of Enjin Coin (ENJ) surely doesn’t look like your ordinary depiction of the price action of an altcoin from the wrong side of the top 100 - ENJ is currently ranked 72nd, with the market capitalization of $142 million.
ENJ historical chart
It’s certainly far from being the depiction of the bottom-feeding price action that’s characteristic of the neighboring altcoins, such as Decred (DRC) and Bitcoin Gold (BTG). Over the past two years, ENJ had made at least two powerful attempts to free itself from the shackles of the downtrend that began immediately after the price reached the all-time high at $0,49 in December 2018 and then rolled back to $0,16, the historical low.
The first attempt in 2019 took the form of an aggressive bull rally that found the ceiling at $0,2, an important resistance level that ENJ encountered again during the ongoing cycle of price action. But it also ended in a long and deep correction that was aggravated by the coronavirus crisis in March, which also became a starting point for another rally to $0,23 that also appears to have ended with the September market crash.
