ENS/USD Attempting to Switch to an Uptrend

The strong selling pressure that we see in the ENS/USD market on the 18th of September was also followed by a very strong buying pressure. However, this was not enough to undo the extent to which sellers have pushed the price. By the 20th of September, the price began to range sideways. The bulls held up strongly to resist bearish advancement these days. Today, with the significant candlestick pattern, we are seeing the downtrend changing to an uptrend as the buyers begin to have the upper hand.

Ethereum Name Service Market Price Statistic:

• ENS/USD price now: $14.30900
• ENS /USD market cap: $289,333,437.76
• ENS /USD circulating supply:20, 244,862
• ENS /USD total supply: 100,000,000
• ENS /USD coin market ranking: #113

Key Levels

• Resistance: $15.00, $15.50, $16.00
•  Support: $12.00, $11.50, $11.00

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Ethereum Name Service Market Price Analysis: The Indicators’ Point of View

Between yesterday and today, a bullish engulfing pattern candlestick pattern forms on the ENS/USD chart. This candlestick pattern is very significant as it tells us that the uptrend is starting right away. According to the MACD indicator, we see that the market is in the bearish zone, but the bearishness of the market is reducing. And from the information that we get from the two lines, we see that the fast line is about to catch up with the slow line. In the RSI indicator, the line has already entered the upper part of the indicator at 52% market strength.

Ethereum Name Service: ENS/USD 4-Hour Chart Outlook 

In this short time frame, we see that the ENS/USD market has already entered into a bullish trend. In the trading sessions of today’s market, we see how buyers took the control of the market. looking at the way today’s market is going, it is very likely that this bullish trend continues. And as it continues it will reflect into the larger timeframe. 

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