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Ethereum Name Service Price Prediction for Today, February 6 – ENS Technical Analysis

3 Mins read

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The Ethereum Name Service price prediction shows that ENS has gained almost 10.80% and the next resistance level could be at $23.0.

ENS Token Skyrockets 25% Following Major Partnership

Today, Ethereum Name Service (ENS) is capturing the market’s attention with a remarkable surge, fueled by its recent collaboration with GoDaddy. Amidst a landscape where many altcoins are grappling for stability, ENS stands out by defying gravity with its extraordinary price rally. As of the current writing, the token has experienced a staggering 25% surge, reaching $22.90 within just 24 hours.

Ethereum Name Service Prediction Statistics Data:

  • Ethereum Name Service price now – $22.35
  • Ethereum Name Service market cap – $688.9 million
  • Ethereum Name Service circulating supply – 30.7 million
  • Ethereum Name Service total supply – 100 million
  • Ethereum Name Service Coinmarketcap ranking – #91

ENS/USD Market

Key Levels:

Resistance levels: $30, $32, $34

Support levels: $13, $11, $9

Ethereum Name Service Price Prediction for Today, February 6 – ENS Technical Analysis
ENSUSD – Daily Chart

ENS/USD is seen moving from $20.14 to cross above the resistance level of $22.00 in a matter of hours, touches an intraday high at $22.90. While the coin is seen making an effort to create additional gains, the crypto retains bullish momentum. Furthermore, the Ethereum Name Service price is currently trading at $22.35 in a daily uptrend which may most likely form a bull flag in the long term.

Ethereum Name Service Price Prediction: What could be the Next Direction?

Due to a strong upside movement of the coin, the Ethereum Name Service price faces an uptrend as it is getting ready to trade above the resistance level of $25. However, today’s low at $19.76 may now serve as strong support for the coin, therefore, if it is broken, the sell-off may be extended to $15.0. At the moment, the bulls are planning to retain the market by keeping the Ethereum Name Service price above the 9-day and 21-day moving averages.

However, if the price moves below this barrier, it could hit the support levels of $13, $11, and $9. As the daily chart reveals, the 9-day moving average could make a bullish cross above the 21-day moving average, which indicates that the bullish trend may continue to play out. Moreover, if the bulls can put more effort and push the Ethereum Name Service price higher, further resistance levels could be found at $30, $32, and $34.

ENS/BTC Heads to the North

Against Bitcoin, the Ethereum Name Service (ENS) is demonstrating a positive sign above the 9-day and 21-day moving averages. However, the trend is ranging in the short-term and moves within the channel. It is currently changing hands at 5173 SAT as it could move very close to the upper boundary of the channel.

Ethereum Name Service Price Prediction for Today, February 6 – ENS Technical Analysis
ENSBTC – Daily Chart

Nevertheless, if the coin crosses above the channel, the potential resistance level could be found at 7400 SAT and above but sliding below the lower boundary of the channel may locate the closest support level at 2700 SAT and below. Therefore, the 9-day MA is likely to cross above the 21-day MA, indicating more bullish signals.

@Crypt0_Savage, on his X account (formerly Twitter), predicts a possible further decline in the $ENS price to the $16.30 support zone based on the current market trend. However, if the price breaks through descending resistance, it could potentially rise to approximately $25.

Ethereum Name Service Alternatives

The Ethereum Name Service (ENS) is trading around $22.3, showing signs of a potential uptrend. It’s likely to stay above key moving averages, suggesting bullish momentum. Meanwhile, attention is shifting to Bitcoin Minetrix (BTCMTX), a promising newcomer offering cloud mining credits. Security and transparency are emphasized in this decentralized system. Notably, the presale for BTCMTX has surpassed $10.3 million, presenting an enticing opportunity for investors.

Bitcoin Minetrix ICO Crosses $10M Threshold: Unveiling the Next Crypto with 10X Growth Potential!

The Bitcoin Minetrix presale, launched in the third quarter of 2023, has seen remarkable success despite market volatility. Investor interest remains strong, demonstrating continued enthusiasm for the token. Interestingly, Bitcoin Minetrix emerges amidst a heightened focus on Bitcoin. However, the ongoing presale of Bitcoin Minetrix offers an opportunity for gains independent of current market fluctuations.

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