Ethereum Name Service (ENS) Seeks to Acquire Support Above the $44 Price Level

The ENS token has seen moderate price increases today. As a result, the token moved to the second spot on the daily crypto mover’s list as the price increased by over 6% as of the time of writing. As it stands, it appears that market participants are targeting the next psychological resistance price level up ahead at the $44.00 price level.

ENS Statistics:

ENS Price: $43.20

Ethereum Name Service Market Capitalization: $1.45B

ENS Circulating Supply: 34.4M

Ethereum Name Service Total Supply: 100M

ENS CoinMarketCap Rank: 85

Key Price Levels:

Resistance: $45.00, $47.00, $50.00

Support: $42.00, $41.00, $39.00

Ethereum Name Service Sees Moderate Profits Near the $44.00 Mark

As earlier noted, the ENS token has seen a price increase of specifically 6.11% today. The corresponding price candle appeared green and had a moderate size but seemed to have contracted downward earlier on. This could be seen via the appearance of an upper shadow on the corresponding price candle. Nevertheless, the session stays bullish considerably, and price action stays above all the Moving Average lines on the chart.

Also, the Stochastic Relative Strength Index (RSI) lines are still projected upward, and, as such, align with the opinion that the market still has an upward trajectory. As a result, it does seem likely that this market may advance past the $44.00; however, support above this price mark may be most important to buyers.

ENS Buyers Are Witnessing Headwinds Near the $44.00 Threshold

Even in the 4-hour Ethereum Name Service price chart, it is seen that upside forces are still in the lead. However, the last price candle on the chart has a long upper shadow, which reflects the effect of downward forces. This has caused the market to contract downward in the ongoing session, bringing the price of the token below the $44.00 mark.

Yet, trading is occurring above all the MA curves. The 20- and 100-day MA lines are delivering an upside crossover below price action. Likewise, the Stochastic RSI lines have an upside crossover in the overbought region. Therefore, it seems the market may break the $44.00 resistance to approach the $45.00 mark.

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