- Ethereum Name Services (ENS) going to overcome upwards hurdles amid bullish rally.
- ENS crypto is trading higher significant moving averages like 20,50,100 and 200.
- The Marker cap of ENS token rose over 10% overnight at $357.5 Million.
The Ethereum Name Services (ENS) crypto stays in a higher zone while remaining under the bullish price pattern. This bullish pattern continues to provide a price pump in crypto whenever it retests the support line. Meanwhile, ENS token price against the USDT pair is trading near resistance at $17.6 mark during writing.
The Ethereum Name Services token’s price action forms higher-lows formation since Mid-July. During this bullish price action, buyers often accumulated ENS crypto close to upwards trendline (dashed yellow) over the daily price chart. Although assets show a roller-coaster ride, this week’s bulls are aggressively gathering compared to other weeks.
Ethereum Name Services token has appreciated in the last few days, thus its up around 22.9% so far this week. The $18 level is seen as an immediate resistance zone, and ENS price is going to hit this level amid ongoing trend. Besides, the ideological round level of $10 stays as a key hedge zone of bulls.
100-SMA Stays Below the ENS Price as a Support Level
In the last 24 hours trading volume of ENS token increased 92% at $150 Million. As a result, the Marker cap of ENS token rose over 10% overnight at $357.5 Million. Market cap is gradually increasing because, ENS crypto is trading higher significant moving averages like 20,50,100 and 200 in terms of the daily price scale. The 100 SMA has changed into a key dominating level of buyers.
In addition, MACD is increasing higher above the neutral zone over daily price scale. Meanwhile, histograms are showing higher zones in the positive region.
Conclusion
The Ethereum Name Services (ENS) price is in a bullish mood under the strong price pattern. At that point, the ENS price appreciated near the immediate resistance level of $18. Bulls need to hold ass prices at this bullish hurdle to make a bullish breakout.
Resistance level- $18 and $30
Support level- $14 and $10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/10/06/ethereum-name-services-ens-price-is-going-to-escape-60-day-bullish-hurdle-during-higher-lows-formation/