Ethereum Name Service seems to be one of the most successful cryptos today. This crypto moved around 25% of its value in a single day. And, by this performance, ENS should be the best performing crypto on the market. Currently, this crypto is now trading at $15.38, and it looks like this crypto may cost even more.
ENS price now: $15.38
ENS market capitalization: 314.2 million
Total ENS supply: 100 million
ENS Ranking: 101
Important levels:
Resistance: $12.40, $12.60, $15.38
Support: $12.40, $12.10, $11.80
ENS/USD Value Prediction: Ethereum Name Service Bulls Seem Exhausted But Not Ready For A Downtrend
Considering the daily chart for ENS/USD, one can notice how the increasing volatility has propelled the crypto value higher. Also, the uptrend seems to be coming to an end, but the trading indicators are still undecided about a trend reversal. The MA (moving average) lines remain below the candlestick, however, it looks like the faster MA line is looking to cross above a candlestick. And, if this eventually happens, the movement in value may vary or trend downward.
Also, the Stochastic Relative Strength Indicator asserts that the uptrend may have come to an end. Nevertheless, the closeness between the lines indicates that the trend is trying not to reverse. Moreover, if we look at the terminal end of these lines, we can see that these lines seem to have made a lateral cross. This may cause the price to rise, as the 100% on the indicator has not yet been reached. Going forward, the price of ENS could reach price levels of $16 or $17.
ENS/USD Value Prediction: Downtrend Could Be Up in Ethereum Name Services Market
Even though the MA lines are still below the price candlesticks, the ENS/USD four-hour chart reveals that a trend reversal may be setting in. Here we can see that the MA lines have already crossed and are moving away. Also, the distance between these lines widens as they progress, these lines could soon trap the candlesticks.
Eventually, price movement may break down the resistance formed by the slower MA and price may trend lower. Also, the SRSI confirms the possibility of this event, as the lines of this indicator are about to cross in the oversold region.
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