After a slight recovery, all the cryptocurrencies in the market seemed to have taken a break, since the price charts did not register significant changes in the last hours. However, good news of alliances between major technology companies and the crypto market in general have generated a stir in certain altcoins, as is the case of Enjin Coin (ENJ) that has managed to rise to levels of up to 65%.
According to CoinMarketCap, the range of the first ten cryptocurrencies shows a slight variation in the prices of the main altcoins. Litecoin clinging to the fourth place with a tremendous correction of prices out of the bear. Stellar (XLM) on the other hand has also come out of this scenario and starts to give positive results. Perhaps the highlight of this top ten, is the rise of Binance Coin (BNB) to the seventh place as analyzed in a previous post by Today’s Gazette.
Enjin Coin (ENJ) Price Prediction for April 2019
After weeks of uncertainty, the cryptocurrency focused on gaming, finally confirmed its alliance with the South Korean giant Samsung, to include an interface of crypto games based on the cryptocurrency on its upcoming Samsung Galaxy S10.
The announcement was made at the Mobile World Conference in Barcelona, Spain. In addition, Enjin can also be used to send and receive ERC-20 tokens and ERC-115 crypto game tokens, as well as trade between them.
\After this information, Enjin Coin (ENJ)‘s currency saw a massive increase in its price. The alliance was speculated a week ago and the quote price of the currency rose from $ 0.03 to $ 0.0103. In four hours he managed to rise to 91.91% to reach the ceiling of $ 0.191.
Its stock market capitalization also shot up to $ 130.97 million, its highest point since May 2018. At the time of writing, the cryptocurrency has a spot price of $ 0.169 (65.98%) and a stock market capitalization of just over $ 128 million that allows it to be in position 44 of the global ranking.
In the short term, the picture is quite encouraging, as Enjin recently partnered with Unity Technologies, which allows the addition of the Blockchain software development kit (SDK) from Enjin Coin (ENJ) to the Unity Asset Store. This SDK will allow developers and players to create and work with their own ERC-115 tokens.
That said, the cryptocurrency has a bright future ahead. According to the 1H chart, the upward trend will continue to be maintained, although with less force of course, but giving interesting profits to investors in the early stage of the cryptocurrency.
A cut is expected at point a ($ 0.1745) and then backward to point b ($ 0.143433) in about five days. These points are still rising if we compare the altcoin prices before today’s rally.
In the medium term, the outlook for April is not different. The cryptocurrency presents an immediate resistance at the crossing point within a month with an approximate value of $ 0.0194, after the price correction presented in the previous graph.
Its support to this term is still between moderate and low, with red lines indicating contractions between 30-60% in its price, in the worst case scenario.
The Chaikin Money Flow indicator and % Bollinger Bands maintain relatively high average levels, denoting the upward sentiment of the altcoin that would last till April in the medium term.
Litecoin (LTC) Long-Term Price Prediction
The cryptocurrency of Charlie Lee, has climbed a ladder in less than a week, thanks to the momentum it had in the course of its high trade. Since our last post during the weekend, LTC has managed to earn $8 units to its price to be presented at the time of writing, at a spot of $ 56.77 USD per unit (-1.07%).
Its stock market capitalization market of almost $ 3.5 trillion dollars, has allowed it to surpass EOS as the fourth cryptocurrency of the ecosystem, although slightly with an advantage of just 46 million dollars with respect to its closest contender.
Despite its contraction, the current value of Litecoin (LTC) is the product of another correction in its prices and apparently the asset still potential to rise, according to the wedge pattern and short-term support drawn.
All previous resistances seems to be exceeded and now we see new ‘challenges’ for the altcoin in R1 ($ 61), with support in the S1 brand ($ 48.28).
The Parabolic SAR chart on the candlesticks suggests the current bearish pattern, possibly due to price correction given the bear attack to take control.
MACD also ratifies the Parabolic SAR position, an imminent bearish pattern that could return the cryptocurrency to support levels.
In the medium term, the cryptocurrency presents two possible scenarios: a bearish one indicated in the graph by the ABC pattern of Elliot Wave Correction (purple line), and another bullish one that is represented by the Elliot ABCDE pattern (brown line).
Resistance levels to be achieved in the short term will be important for Litecoin (LTC) to allow projecting its future behavior. Its medium-term resistance levels are R1 ($ 63.18) and R2 ($ 67.72) and a support is maintained around S1 ($ 37.68).
The Awesome Oscillator indicator shows us an altcoin with a strong bullish trend for the medium term, with green histograms drawing in a positive direction.
The RSI indicator also projects a scenario where bears will not have a place, since it is close to the overbought zone, although it has made a slight change in its extreme at the last minute, as a result of the pressure of sale by some investors at the moment of write.
With the analysis, Litecoin (LTC) is yet to give a solid one sided sign of what its behavior would be in April, but the altcoin looks to be more oblique towards the bullish side and this can be maintained till the month of April.
STELLAR (XLM) April Price prediction
The ninth cryptocurrency by market capitalization, has long been in that position fighting against the fierceful threat from Tron to displace her from the position. Thanks to its market Capitalization of just over $1,695 million dollars and its growth by two percentage points at the time of writing, it has managed to stay within the selected top ten of the market. Its spot price is $ 0.0919 (+ 4.08%).
In the short term Stellar (XLM) indicates an upward trajectory that will continue up with the level of the immediate resistance between R1 ($ 0.093) and R2 ($ 0.094). Its support remains between the level of the strip bounded by the red lines of the graph between $ 0.085 and $ 0.088.
The Klinger oscillator indicator gives us a good look, by staying in the middle levels above the zero line, synonymous with a short-term uptrend.
In the medium term, Stellar (XLM) presents a downward trajectory, with a strong crossing point for April at $ 0.078 (orange line), close to its support level at $ 0.075.
However, in the long term, the cryptocurrency value can stay between the resistance levels $0.129 and $0.168.
It will depend on the market situation and what Bitcoin, the main reference, can achieve. So that there is a domino effect in the rest of the altcoins that benefits a greater boost to the lumens.