Ethereum

The post <a href="https://coinpedia.org/price-analysis/ethereum-name-services-price-displays-2x-gains-will-ens-price-hold-its-gains/">Ethereum Name Services Price Displays 2x Gains! Will ENS Price Hold Its Gains?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The ENS coin displayed a massive surge in its address during the years 2021 and 2022, but following the bear market in 2023, the price lost a major valuation. 
Further, the ENS price has recently regained momentum, highlighting an increased buying pressure in the market.&nbsp; 
The ENS coin price traded in a narrow space between $8 and $9.32 for a brief period, following which the market gained momentum and the price broke out of the range. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/klUreNHuapTt1qhCnuZL5g-VrkNiF35ZSzwdTfGMeo038CnKUfUXJ0ihzTPsS0Ifs65WIv68JuQ2GYpO5eEDciAfFxkg42fNyx2NNOKq6S9La_4XereXNIn_sSgJQqjijZnFjtvYRA5AORB3EF55hVk" alt="ENS Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ENS/USDT
 </figcaption>
</figure> 
However, the rally was short-lived as the price faced rejection at $10.91, after which the coin traded sideways for over a week. As the altcoin hype grew, Ethereum Name Services recorded a jump of approximately 97% in its valuation. 
Following this, the price traded sideways in a consolidated range between $10.91 and $15.74 for about a week. Recently, the price recorded a massive jump of 98%, indicating an increased bullish sentiment in the market. 
The technical indicator, MACD, displays a decline in the green histogram, indicating a decrease in the buying pressure for the coin. Moreover, the averages show a bearish curve, suggesting a high possibility of a trend reversal in the coming days. 
<h2 class="wp-block-heading" id="h-will-ens-price-go-up">Will ENS Price Go Up?</h2> 
If the bulls hold the price above the support level of $21.89, the ENS price will regain momentum and test its resistance level of $24.44. Further, if the bulls maintain the price at that level, the bulls will attempt to test its upper resistance level of $26 in the coming time. 
Negatively, if the bears overpowered the bulls, the Ethereum Name Services will lose momentum and fall to test its support level of $19.02. 
Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $15.74 over the weekend.

Ethereum Name Services Price Displays 2x Gains! Will ENS Price Hold Its Gains?

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