Ethereum Name Service Price Prediction for Today, March 6 – ENS Technical Analysis

adminMarch 7, 2024

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The Ethereum Name Service price prediction could be bullish if the market attempts to rise above the $30 resistance level.

Ethereum Name Service (ENS) 2024 Price Prediction: Will GoDaddy Collaboration Drive ENS?

In 2023, Ethereum Name Service’s ENS token faced significant challenges, hitting an all-time low in June amid a market downturn triggered by the U.S. Securities and Exchange Commission’s (SEC) filing of a lawsuit against Binance and Coinbase exchanges. However, a notable turnaround occurred for ENS in early 2024, when speculation surrounding an Ethereum ETF caused its value to skyrocket. Additionally, the partnership with GoDaddy contributed to increased interest in the token.

Ethereum Name Service Statistical Data:

Current Ethereum Name Service Price – $24.7
Ethereum Name Service Market Cap – $782.6 million
Ethereum Name Service Circulation Volume – 30.8 million
Ethereum Name Service Total Supply – 100 million
Ethereum Name Service CoinMarketCap Ranking – 112th

ENS/USD market

Main level:

Resistance Levels: $35, $40, $45.00

Support levels: $15, $10, $5

Ethereum Name Service Price Prediction for Today, March 6 – ENS Technical Analysis — ENSUSD – daily chart

ENS/USD appears to be moving beyond the upper boundary of the channel as the coin is trading near the $24.7 resistance level. Due to the fact that the coin is recording a slight uptrend, the Ethereum Name Service price may start maintaining a bullish movement within the channel if the coin remains above its 9-day and 21-day moving averages.

Ethereum Name Service Price Prediction: ENS Could Soar

The Ethereum Name Service price is hovering around $24.73, but a bullish move could increase if it breaks above the upper limit of the channel. Meanwhile, traders can expect strength continuation if the 9-day MA exceeds the 21-day MA. However, possible resistance levels could now be $35, $40, or $45.00.

As of this writing, the Ethereum Name Service price is currently moving sideways in the near-term and a bearish crossover below the lower boundary of the channel could push the coin towards long-term support levels of $15, $10, and $5 respectively. .

ENS/BTC is showing strength today.

Relative to Bitcoin, the Ethereum Name Service price may start an upward movement, but has yet to stay above its 9- and 21-day moving averages. If there is a surge in the direction of the channel, volume and resistance must increase to trigger the market surge, otherwise the market may move sideways. Currently, ENS/BTC is hovering around 3848 SAT and traders can expect close support below 6000 SAT.

However, if buyers push the Ethereum Name Service price higher, it is likely to hit the nearest resistance level at 4600 SAT. Moreover, further gains may encounter potential resistance above 6000 SAT, but the 9-day moving average remains below the 21-day moving average, which could push sellers back into the market.

Meanwhile, Matthew Hyland told followers of

$ENS We hit a new annual high: https://t.co/jdSIyTmEvH pic.twitter.com/UprdrZYDls
— Matthew Hyland (@MatthewHyland_) March 5, 2024

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