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The Ethereum Name Service price prediction may likely set a bullish run if the market can climb back above the $10.0 resistance level.
Key Levels:
Resistance levels: $12.0, $13.0, $14.0
Support levels: $6.0, $5.0, $4.0
ENS/USD is trading in a positive movement at the time of writing. The market is running a little retracement move towards $10.0 resistance with price growth of 3.65%. However, Ethereum Name Service (ENS) is beginning to maintain a bullish movement within the channel and traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.
At the time of writing, the Ethereum Name Service price is hovering within the 9-day and 21-day moving averages. But, if the coin breaks below this barrier, it may slide back to $8.5 and $8.0 support. Moreover, if the price keeps respecting the upward movement, traders can then expect a bullish continuation after touching the $10.0 level. As the technical indicator, Relative Strength Index (14) faces the north, the next resistance levels could be located at $12.0, $13.0, and $14.0 respectively.
Looking at the price formation, a bearish break may likely play out for this market if the bears step into the market. Moreover, this could roll the coin back to the long-term support levels at $6.0, $5.0, and $4.0. Therefore, a continuous fall might further lead to a violent break below $3.0 support.
When compares with Bitcoin, buyers are about to step back into the market while the Ethereum Name Service price is trying to show some promising signs that could make higher highs should it keep on moving above the 9-day and 21-day moving averages. Looking from the upside, the nearest resistance level lies at 3500 SAT and higher resistance lies at 3700 SAT and above.
Meanwhile, from the downside, the nearest support level is located at 2600 SAT, and if the price drops further to create a new low, lower support could be located at 2300 SAT and below. Nevertheless, the technical indicator Relative Strength Index (14) is likely to cross above the 50-level which shows that the bulls are coming into focus.
The Ethereum Name Service bulls are now pushing the coin toward the upper boundary of the channel as the technical indicator Relative Strength Index (14) reveals that the market may embark on a positive movement while the signal line moves to cross above the 60-level.
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Wall Street Memes – Next Big Crypto
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Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management. Azeez provides daily articles covering the price movements of major cryptocurrencies, and has contributed to a range of respected publications and trading magazines. Find his other published work on Learn2.trade, and…
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Ethereum Name Service Price Prediction for Today, July 8: ENS … – Inside Bitcoins
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