Ethereum Name Service has recorded some moderate profits today. Nevertheless, the bulls in this market seems tired of longer time frames. Despite this crypto has managed to make it to the top of the crypto movers today by moving approximately 7%.
ENS price now: 12.2200
ENS Market Cap: 239.9 million
ENS Total Supply: billion
ENS Rank: 119
Key Levels:
Resistance: $11.9990, $12.1000, $12.2200
Support: $12.1500, $12.1020, $11.8990
ENS/USD Value Prediction: Ethereum Name Service Bulls are Getting Exhausted
On the ENS/USD Daily chart, signs of weakness can be easily seen in this market. Consequently, this reflects the moderate movement made by this crypto. Then EMA (Exponential Moving Average) lies below the price movement, however, these lines seem to be bending upwards. As a result, this foretells that value reversal may be close by. Since these lines may soon cross above the price motion.
Also, the SRSI (Stochastic Relative Strength Indicator) tells more about the weakness in the Ethereum Name Service market. Looking at this indicator, one can see that the curves of this indicator have reached the overbought area. Additionally, we can see that the faster line is already bending to cross the slower one. Eventually, when this finally happens this will cause the crypto price to correct downwards.
ENS/USD Value Prediction: Shorter Time Frame Tells how far Ethereum Name Service can go
A shorter time framed ENS/USD chart, tells that this crypto price will increase but not for long. Here one can see that the faster EMA line is now touching the candlesticks. Consequently, this could be viewed as an attempt for the price to reverse. Also, once the EMA lines can migrate above price motion, subsequently crossing each other Ethereum Name Service trend downwards.
Furthermore, the SRSI has made an upward cross here, but we can only anticipate further minimal gain in value. This indicator curve is more likely to cross each other soon for a downtrend to resume. Therefore, traders can anticipate that this crypto value will at least reach $12.500 or at most $13.000 before a reversal occurs.
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Source: https://insidebitcoins.com/news/ens-usd-value-prediction-for-july-21-bullish-ens