[DigitalToday reporter Jinju Hong (홍진주)] Enjin coin (ENJ) has gained more than 300 percent so far in April, showing one of the steepest rebound trends in the altcoin market.

Blockchain media outlet BeInCrypto reported on Tuesday that ENJ has surged three times on the daily chart in recent days, and said whether it breaks above the $0.07332 resistance level was presented as a turning point for the next move.

Enjin coin started in 2017 as a project linking games and blockchain, and has provided tools to create and manage Ethereum-based game items and non-fungible token (NFT) assets. It slid from a peak of $0.11839 in April 2025 to $0.00042 in October that year, effectively giving back most of its gains.

ENJ has since rebounded and is testing $0.07332, the 0.618 level on a long-term Fibonacci retracement. That price zone is seen as a key resistance. If ENJ succeeds in closing the daily candle above that level, the next target price was presented as $0.09314. If it fails to hold $0.07332, it could fall to $0.0594, and to $0.04548 on further declines.

The short-term trend also showed an upward structure. On the 1-hour chart, highs rose in sequence near about $0.043, $0.054 and $0.073, and a pattern was confirmed in which broken resistance later turned into support.

Trading volume also increased. Daily volume grew as rising candles continued and climbed to the highest level in about a year. Bollinger Bands also widened rapidly from April 14 after a long contraction, showing a momentum market in which the price moved up along the upper band.

On-chain indicators also supported the bullish trend. Exchange inflows, based on Santiment, totaled only 19,600 tokens. That means exchange inflows were not large even though the price nearly doubled in recent days. Daily active addresses also rose to 920 from a range of 50 to 150 over several months. It was the second-highest figure over the past six months.

There were also overheating signals. The daily relative strength index (RSI) rose to 93.3, entering an extreme overbought zone. On the 1-hour chart, early signs of bearish divergence appeared, with RSI peaks falling as the price made higher highs, and the Bollinger Band Width Percentile (BBWP) also pointed to extreme volatility. An analysis said whether ENJ extends gains depends on whether it settles above and holds $0.07332.