- Bullish ENS price prediction is $17.98 to $77.35.
- The ENS price will also reach $80 soon.
- ENS bearish market price prediction for 2022 is $7.80.
In Ethereum Name Service (ENS) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about ENS to analyze the future movement of the cryptocurrency.
Ethereum Name Service (ENS) Current Market Status
According to CoinGecko, the price of Ethereum Name Service (ENS) is $13.15 with a 24-hour trading volume of $107,366,800 at the time of writing. However, ENS has decreased to 0.8% in the last 24 hours.
Moreover, Ethereum Name Service (ENS) has a circulating supply of 25,783,233 ENS. Currently, ENS trades in cryptocurrency exchanges such as Binance, BTCEX, OKX, Bybit, and MEXC.
What is Ethereum Name Service (ENS)?
On the Ethereum blockchain, there is a decentralized name system called Ethereum Name Service (ENS). Users can purchase names like “bob.eth” that are human-readable and map them to identifiers like addresses, content hashes, and metadata.
ENS is frequently compared to the internet’s version of DNS, the Domain Name Service (DNS) used by websites like google.com to provide human readable names while mapping against IP addresses.
In contrast to a DNS, ENS domains are controlled by smart contracts and are held by a DAO as opposed to a centralized authority like ICANN. Similar to purchasing an internet domain name, anyone can buy and sell an ENS name.
Ethereum Name Service (ENS) Price Prediction 2022
Ethereum Name Service (ENS) holds the 122nd position on CoinGecko right now. ENS price prediction 2022 is explained below with a daily time frame.
An ascending channel is defined as the price action contained between two parallel upward-sloping lines. This price pattern is distinguished by higher highs and lower lows. An ascending channel is created by drawing a lower trend line that connects the swing lows and an upper channel line that connects the swing highs.
Price does not always remain entirely formed within the parallel lines of an ascending channel, but instead shows areas of support and resistance that traders can use to set stop-loss orders and profit targets. A breakout above an ascending channel may indicate a continuation of the upward trend, whereas a breakdown below an ascending channel may indicate a change in trend.
Currently, Ethereum Name Service (ENS) is at $13.15. If the pattern continues, the price of ENS might reach the resistance level of $17.98. If the trend reverses, then the price of ENS may fall to $7.98.
Ethereum Name Service (ENS) Support and Resistance Levels
The chart below shows the support and resistance levels of Ethereum Name Service (ENS).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Ethereum Name Service (ENS).
- Resistance Level 1 – $22.02
- Resistance Level 2 – $38.45
- Resistance Level 3 – $77.35
- Support Level 1 – $12.56
- Support Level 2 – $7.80
The charts show that ENS has performed a bullish trend over the past month. If this trend continues, ENS might run along with the bulls overtaking its resistance level at $77.35.
Accordingly, if the investors turn against the crypto, the price of the ENS might plummet to almost $7.80, a bearish signal.
Ethereum Name Service (ENS) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Ethereum Name Service (ENS) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of ENS lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of Ethereum Name Service (ENS) is shown in the above chart. Notably, the ENS price lies above 50 MA (short-term), so it is completely in an upward trend. Currently, ENS is in a bullish state. There is a possibility of a reversal trend of ENS at any time.
Meanwhile, the relative strength index (RSI) of the ENS is at a level of 43.57. This means that ENS is in neither oversold or overbought state. However, this gives confidence to the traders to trade without any fear.
Ethereum Name Service (ENS) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Ethereum Name Service (ENS). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Ethereum Name Service (ENS). Currently, ENS lies in the range of 23.41, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of Ethereum Name Service (ENS). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of ENS lies below 50, indicating that the direction of volatility is low. In fact, ENS’s RSI is at 43.57, thus confirming a potential sell signal.
Comparison of ENS with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Ethereum Name Service (ENS).
From the above chart, we can interpret ETH, BTC, and ENS are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ENS also increase or decrease respectively.
Ethereum Name Service (ENS) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Ethereum Name Service (ENS) might probably attain $85 by 2023.
Ethereum Name Service (ENS) Price Prediction 2024
With several upgrades in the network, Ethereum Name Service (ENS) might enter a bullish trajectory. If the coin grabs the attention of major investors, ENS might rally to hit $88 by 2024.
Ethereum Name Service (ENS) Price Prediction 2025
If Ethereum Name Service (ENS) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, ENS would rally to hit $92.
Ethereum Name Service (ENS) Price Prediction 2026
If Ethereum Name Service (ENS) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, ENS would rally to hit $96.
Ethereum Name Service (ENS) Price Prediction 2027
If Ethereum Name Service (ENS) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, ENS would rally to hit $100.
Ethereum Name Service (ENS) Price Prediction 2028
If Ethereum Name Service (ENS) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, ENS would hit $108.
Ethereum Name Service (ENS) Price Prediction 2029
If investors flock in and continue to place their bets on Ethereum Name Service (ENS), it would witness major spikes. ENS might hit $110 by 2029.
Ethereum Name Service (ENS) Price Prediction 2030
With greater advancements in the Ethereum Name Service ecosystem, the crypto community might continue to invest in Ethereum Name Service (ENS) for the next 8 years and drive significant price rallies for the token. Hence, Ethereum Name Service (ENS) might hit $115 by 2030.
Conclusion
With continuous improvements in the Ethereum Name Service network, we can say that 2022 is a good year for ENS. For this reason, the bullish price prediction of Ethereum Name Service (ENS) in 2022 is $77.35. On the other hand, the bearish price prediction of Ethereum Name Service (ENS) for 2022 is $7.80.
Furthermore, with the advancements and upgrades in the Ethereum Name Service ecosystem, the performance of Ethereum Name Service (ENS) would rise to reach above its new all-time high (ATH) of $83.40 very soon. But, it might also reach $80 if the investors believe that ENS is a good investment in 2022.
FAQ
Ethereum Name Service is an open, distributed,and extensible naming system based on the Ethereum blockchain.
Ethereum Name Service (ENS) has been listed on many crypto exchanges which include Binance, BTCEX, OKX, Bybit, and MEXC.
With the ongoing developments and upgrades within the Ethereum Name Service platform, Ethereum Name Service (ENS) has a high possibility of reaching its ATH soon.
On November 11, 2021, Ethereum Name Service (ENS) reached its new all-time high (ATH) of $83.40.
Ethereum Name Service (ENS) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Ethereum Name Service in the past few months, ENS is considered a good investment in 2022.
Ethereum Name Service (ENS) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Ethereum Name Service (ENS) will hit $80 soon.
Ethereum Name Service (ENS) price is expected to reach $85 by 2023.
Ethereum Name Service (ENS) price is expected to reach $88 by 2024.
Ethereum Name Service (ENS) price is expected to reach $92 by 2025.
Ethereum Name Service (ENS) price is expected to reach $96 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Source: https://thenewscrypto.com/ethereum-name-service-ens-price-prediction-2022-will-ens-hit-80-soon/