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The Ethereum Name Service coin has been notably bullish. It has appeared on the top crypto gainers list for several days due to the strong upward correction in its price action. As of today, the token has gained an additional 13.75%. Momentum in the market appears very high, and it seems likely that we might witness even more upward movement shortly.
ENS Statistics
Current Price: $26.28
Market Capitalization: $962.5M
Circulating Supply: 36.54M
Total Supply: 100M
CoinMarketCap Rank: 79
Key Price Levels
Resistance: $28.00, $30.00, $32.00
Support: $25.00, $23.00, $19.00
ENS Upside Momentum Gains Strength
On the daily chart, the Ethereum Name Service coin has remained persistently bullish. This has resulted in the market hugging the upper limit of the Bollinger Bands (BB) indicator over the past seven sessions, during which buying activity has been most significant. The latest price candle can be seen extending beyond the upper limit of the BB indicator while appearing solid green.
Likewise, the line of the Smoothed Rate of Change (SROC) indicator can be seen rising steadily above the equilibrium level. The line remains above equilibrium and appears poised to continue its ascent, thereby affirming that bullish momentum remains strong.
Ethereum Name Service Eyes the $27.50 Price Level
The ENS/USDT market on the 4-hour chart also remains bullish. The ongoing 4-hour session is trading outside the upper limit of the BB indicator, maintaining its bullish posture based on its appearance. Although the BB indicator is widening, it still lags slightly behind the strong bullish momentum in this market.
Additionally, the line of the SROC indicator is now above the equilibrium level and is taking on a steeper upward trajectory. Consequently, for short-term gains, it appears reasonable to target the $28 price level, as the market is clearly edging toward that point.
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