Review on Enigma by Mehdi hazni
Enigma Project and ENG Price Analysis
Smart contract projects did not have complete privacy when it came to projects such as ethereum, which is the most popular. This means that the amount of transaction transfers and address balances was known, which is why the enigma project was launched with the idea of having full privacy in smart contracts (like Dash, which was released to complete Bitcoin privacy)
The project gained a lot of fame upon arrival and also grew in price so much that it became one of the top 100 currencies in coinmarketcap. But it could not sustain that growth and is currently ranked ENG 300.
The highest price of enigma was around $ 7.9 and the current price is about 96% lower than that price.
In 1H and BTC pair ENG currency, it seems that a head and shoulders pattern has been formed, which can be expected to decrease in price due to the bullish neckline. Of course, this is for the short term. (I have sent the relevant chart below)
In the long run and daily, the price has started an upward trend, but due to the large fluctuations of this currency and, of course, its small size, no specific conclusion can be drawn from it. In the long run, if the price rises in the USDT pair, it can grow well up to around $ 2, and the most important resistance is the limited $ 1.7 - $ 2.
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Pros
- In the long run, due to the lack of correction after the fall of 2018, growth can be expected up to $ 1.7-2
- The success of this project at the time of its arrival and its good reputation
Cons
- Short-term due to the formation of the head and shoulders pattern in 1H, the probability of falling in the btc pair is very high
- The number of subscribers in the social media pages of this project is low compared to its ranking. (472 Twitter, 3570 reddit and 354 telegram)
