Ethereum Name Service (ENS) Trades Near a Two-Year High

TThe Ethereum Name Service has recently been hovering around the $22.00 mark. However, a sudden surge has occurred in the market today, taking it through multiple psychological resistance levels. As of the time of writing, the session is holding on to the promise of a continued upward move. Nevertheless, let’s consider how this market may be approached.

ENS Statistics:
Current ENS Value: $27.03
Ethereum Name Service Market Cap: $851,088,461
ENS Circulating Supply: 30,809,685
Ethereum Name Service Total Supply: 100,000,000
ENS CoinMarketCap Rank: 110

Key Price Levels:
Resistance: $27.03, $28.50, and $30.00
Support: $26.00, $24.50, and $23.00

ENS Pops the $27.00 Mark

As mentioned earlier, the price action in the Ethereum Name Service Market has crossed multiple psychological price levels. Yet, technical indicators are still hinting that more moves may be seen even after such a huge price move in a session. However, it could be seen that the ongoing session has tested the $28.00 mark but seems to have retracted from it.

Nevertheless, the market remains at an impressive height, outside the uppermost limit of the Bollinger Bands. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator lines have just performed an upside crossover above the centerline of the indicator despite the price contraction off the $28.00 mark. This seems to be hinting that price action may still keep going upward.

Ethereum Name Service Seems Determined to Cross the $28.00 Mark

Moving to an ENSUSDT market of 4 hours, it could be perceived that this market is consistent with bullish characteristics. Here, the last price candle has even pushed the price further from what it was on the daily market. Also, the ongoing session can be seen standing comfortably above the $22.11 mark.

Consequently, this token trades high above the uppermost band of the Bollinger Bands.
Likewise, the MACD lines are appearing above the equilibrium level, while the only bar above the equilibrium level here is quite huge. Consequently, this shows that the market has been very volatile within a 4-hour timeframe. Therefore, traders can still use crypto signals with targets near the $28.50 mark in this market.

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