Ethereum Name Service saw moderate profits today. Nonetheless, the bulls in this market seem tired of the longer timeframes. Despite this, the crypto managed to climb to the top of the crypto engines today by moving around 7%.
ENS price now: 12.2200
ENS market capitalization: 239.9 million
Total ENS supply: billions
ENS Ranking: 119
Resistance: $11.9990, $12.1000, $12.2200
Support: $12.1500, $12.1020, $11.8990
ENS/USD Value Prediction: Ethereum Name Service Bulls Are Running Out
On the ENS/USD Daily chart, signs of weakness are easily visible in this market. Hence, this reflects the moderate movement made by this crypto. Then the EMA (Exponential Moving Average) sits below the price movement, however, these lines appear to lean upwards. As a result, this predicts that the reversal in value might be near. Since these lines may soon cross the price movement.
Moreover, the SRSI (Stochastic Relative Strength Indicator) tells more about the weakness of the Ethereum name service market. Looking at this indicator, we can see that the curves of this indicator have reached the overbought zone. Also, we can see that the faster line is already bending to cross the slower one. Eventually, when this finally happens, the crypto price will correct lower.
ENS/USD Value Prediction: Shorter Time Frame Indicates How High Ethereum Name Service Can Go
A shorter time framed ENS/USD chart indicates that this crypto price will rise, but not for long. Here it can be seen that the faster EMA line is now touching the candlesticks. Therefore, this could be seen as an attempt to reverse the price. Also, once the EMA lines can migrate above the price movement, they then cross, the downtrend of the Ethereum name service.
Additionally, the SRSI has made a bullish crossover here, but we can only anticipate a still minimal gain in value. This indicator line is more likely to cross soon for a downtrend to resume. Therefore, traders can anticipate that this crypto value will reach at least $12,500 or at most $13,000 before a reversal occurs.
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