- ENS increased 300% this year, showing the dominance of bulls.
- The trading volume has decreased by 45% in the past 24 hours.
Since 2024, ENS had been in a bullish trend and had secured more than 300% till now. The price reversed from the support level of $19 and broke out from the significant resistance level of $29.
Since its launch, the Ethereum Name Service (ENS) crypto price has experienced a violent fall. The price has remained in a consolidation phase throughout 2022 and 2023 for a longer frame. At the beginning of 2024, the price showed sudden bullish momentum and has remained bullish till now.
Turning to the technical indicators, ENS was trading over the key moving averages at press time. MACD and the signal line have sustained over the Zero line, and the histograms have remained green. Technical indicators favor bullish forecasts based on the time of writing.
ENS Price Has Shaped a Hammer and Surged by 40% in a Week; What’s Next?
At press time, the ENA crypto traded at $31.99 with a neutral momentum in the past 24 hours. The market capitalization was $1.01 Billion, and the fully diluted market cap was $3.19 Billion. The 24-hour trading volume was $168.67, with a fall of 44%.
The technical chart displays that the ENS crypto price has been bullish and has risen by forming higher highs and higher lows. The Ethereum Name Service price has generated a higher high at press time, and a small pullback is expected.
According to the higher swings, the ENS price may show profit booking for the short term. If the price retests the 200-day EMA and forms a bullish candlestick, it may attract buyers and lead to a strong bullish trend.
Alternatively, the digital asset price has triggered a breakout from the major resistance level of $29 and has gained bullish momentum. If ENS remains bullish over the $30 mark, buyers may eye for the $50 mark.
ENA Price Seeking 30% Ahead?
#Ethereum Name Service is on the rise! Breaking its weekly resistance at $27.70, $ENS is now trading at $31.61 (up 3%). A 29% rally to $41 could be next if support holds. #Crypto pic.twitter.com/ySufEHFgT7
— 山丨ㄥㄥ Trader_Kamikaze 🇧🇷 🤘 (@trader_kamikaze) July 1, 2024
A source on X claimed that Ethereum Name Service price is bullish in every time frame and has triggered a breakout from the weekly resistance level of $27.70. Buyers are looking for a 29% rise to the $41 mark if it holds on to the support level.
ENA Looking for More Bullish Moves?
$ENS following our prediction so far after breaking out 📈
— Dami-Defi (@DamiDefi) July 2, 2024
+30% so far 🤝
I look for more upside. https://t.co/zvD58DVg54 pic.twitter.com/yX3MtvtMUH
Are the Bulls Going to Dominate Further?
Ethereum Name Service (ENS) price has exhibited strong bullish momentum and reached a 52-week high. The technical indicators favor bullish forecasts, and the price has formed higher highs and higher lows. If the price maintains its bullishness and holds above the $30 mark, it may attract more buyers and potentially eye for the $50 mark.
Technical Levels
The chart structure displays that the bullish trend may get disturbed near the $40 and $50 levels. ENS price may take support at the $22.00 and $18.80 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.