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NewsBTC 2022-10-06 14:00:29

Ethereum Name Service (ENS) Breaks Out, Can Price Hit $20?

ENS price continues its bullish structure after a reclaim of the $15 region as the price stays on track to retest major resistance. ENS trades above key support as price reclaim 8 and 20-day EMA. The price of ENS aims to continue its rally as the price shows bullish strength after breaking out of the descending triangle. Ethereum Name Service (ENS) has looked more decent in price action against tether (USDT) after breaking out of a descending triangle to set up a more bullish sentiment. The price of Ethereum Name Service looks set to breach the $20 mark. Ethereum Name Service (ENS) has had a favorable response as the prices of altcoins and the crypto market look to bounce from their key support areas, with BNB price looking more stable for a retest of key resistance at $20. (Data from Binance) Related Reading: Polkadot Seeing Lots Of Development Activity – But Why Is DOT Stuck In The Cellar? Ethereum Name Service (ENS) Price Analysis On The Weekly Chart. Despite struggling to break above $17 in recent weeks, with the price rejecting its weekly support, the ENS price has managed to hold its key support at $14; with so much uncertainty in the market about where it is headed, the price of ENS showed great strength in that region. Despite the current bear market that has made trading even more difficult, the price of ENS continues to show strong signs of recovery and has surpassed its monthly return on investment (ROI) for major c...

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