Enjin Coin (ENJ) Drops More than 15% In 7 Days, Sparklo (SPRK) Prepares for 40x Price Jump

Despite starting the year on a good note, the large majority of cryptocurrencies are now trading in the red region and that includes Enjin Coin (ENJ) which has dipped 15% over the past week. Meanwhile, analysts have predicted that Sparklo (SPRK), a new investment platform centred around precious metals, is set for a 40x price increase.

Enjin Coin (ENJ) Continues Bearish Momentum 

Enjin Coin (ENJ), an Ethereum-based product that makes it easy for individuals, developers, and businesses to create non-fungible tokens (NFTs) started this year with bullish momentum. However, the sentiment surrounding Enjin Coin (ENJ) has turned bearish.

Over the past 30 days, Enjin Coin’s (ENJ) price trend has shown a modest 0.88% increase, forming an upward trajectory. However, according to CoinMarketCap, Enjin Coin (ENJ) is trading at $0.386075 by press time. This reflects a 0.70% price decline within the last 24 hours and a 15.06% decrease over the past week.

Enjin Coin (ENJ) has established a triangle pattern on its daily chart and has experienced a prolonged consolidation period. Currently trading above both the 20-day and 50-day EMAs, the trend indicates strength. 

On the upside, there is a strong resistance level at $0.41; surpassing this barrier could propel the price towards all-time high levels of $0.45 and beyond. Conversely, a strong support level around the $0.35 mark may be tested if the price of Enjin Coin (ENJ) continues to drop.

Sparklo (SPRK) To 40x In Before The End Of 2023 

Sparklo (SPRK) wants to launch an investment platform that allows investors to participate in the precious metals market through fractionalized investments in platinum, silver, and gold. The Sparklo (SPRK) platform will be the first of its kind in the cryptocurrency and blockchain space.

The primary function of this platform is to generate non-fungible tokens (NFTs) representing precious metals like platinum, silver, and gold. Investors can choose to buy the entire NFT or a fraction of it.

If a user buys an entire NFT, the platform can deliver the respective precious metal to a location specified provided by the individual. Besides, Sparklo (SPRK) plans to partner with jewelry stores to help bring their products to its market, offering Sparklo community members early access to these items at discounted prices.

Notably, the InterFi Network has already audited the Sparklo platform. Currently, the Sparklo team is working on a KYC application process. 

Currently, in its stage one presale, Sparklo (SPRK) is available at $0.015 per token. Analysts predict that the token’s value could potentially surge 40x in the coming months, driven by significant interest in precious metals.

Amid the growing instability of centralized banks and crypto exchanges, along with soaring inflation rates across the globe, investors are exploring alternative investment options.

Precious metals such as silver and gold have in the past acted as a hedge against inflation. Sparklo’s mission is to make these valuable assets accessible to everyone, enabling them to safeguard their wealth.

Find out more about the Sparklo presale:

Website: https://sparklo.finance

Presale: https://invest.sparklo.finance

Twitter: https://twitter.com/sparklo_finance

Telegram: https://t.me/sparklofinance

Chainbits is not the source of this content. This article is provided for educational purposes only. Users should exercise caution with investing/dealing with cryptocurrencies and do thorough research prior.