Ethereum Name Service — Approaching Critical Moment — 30% Up Or

Jul 22

Ethereum Name Service (ENS) has been in a constant uptrend since May and has delivered some appealing pumps. However, ENS hasn't been able to break its long-term resistance at ~28 USD.


Since March, ENS has tested the resistance several times. However, the result has been the same every time: rejection.

On the daily chart, ENS is approaching the corner built of the 28-resistance and the long-term uptrend. As a result, we can expect a major move soon.

To the upside, we have a 30% potential until the next major resistance at ~38 USD, and to the downside, we have identical potential towards the support at ~18 USD.

Based on the long-term trend, the upcoming ETH ETF go-live, and the overall bullish market sentiment, chances for a break to the upside are higher.

Nevertheless, the market is a beast. Therefore, you should watch the chart carefully and not enter a trade before a direction is confirmed.

ENSUSDT