Ethereum Name Service (ENS) Bulls Are Charging

Price movement in the Ethereum Name Service daily market has once again surfaced above the $28.00 mark. Additionally, the base of support seems encouraging, hinting that more moves may be on the way. This may see the market breaking higher-placed technical levels.

ENS Statistics:
Current Ethereum Name Service Value: $28.82
ENS Market Cap: $915,115,328
ENS Circulating Supply: 31,615,519
Ethereum Name Service Total Supply: 100,000,000
ENS CoinMarketCap Rank: 73

Key Price Levels:
Resistance: $30, $40, and $50
Support: $25, $20, and $15

The Ongoing Session in the Ethereum Name Service Market Looks Very Bullish

Following a moderate downward correction in the ENS daily market, which brought the market to retreat below the $28 price mark, upside forces seem to have resumed with massive momentum. However, the fact that price activity remains above the Exponential Moving Average (EMA) lines, despite the downward correction, may have contributed to increased bullishness.

The ongoing session can be seen picking a base at the 20-day EMA curve. Likewise, the Stochastic Relative Strength Index (SRSI) lines can now be seen trending upwards after a bearish crossover was aborted. This hints that bullish crypto signals can still find utility in this market.

ENS Recovers from Earlier Contractions

While price activity in the Ethereum Name Service 4-hour market continues above the EMA lines, it can be seen that the market has quickly recovered from bearish contractions. The appearance of the corresponding price candle to the previous session shows that headwinds had earlier caused the market to contract.

Nevertheless, the current session has brought a recovery from that contraction. As a result, the market has a general upside trajectory. In addition, the SRSI lines can be seen maintaining a smooth upward path. At this point, the market is focused on breaking the $30 price level and seems to have the signs to back up that ambition.

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