Ethereum

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Ethereum Name Service

<p>Ethereum’s ecosystem is doing pretty well following good <a href="https://beincrypto.com/ethereum-spot-etf-launch-july-8/" target="_blank" rel="noopener noreferrer nofollow">news on ETH ETF trading. </a></p>
<p>One of the coins in this ecosystem is <a href="https://ens.domains/" target="_blank" rel="noopener noreferrer nofollow">Ethereum Name Service</a> (ENS) and the price surged around 30% in the past 24 hours which makes today one of the best performing days the ENA price had the whole year.</p>
<p>The coin has surpassed the $30 level and reached daily high at around $32.5 area. The global crypto market cap is also up by 4% during the same period.</p>
<h2 class="wp-block-heading" id="ens-price-analysis-strong-upside-potential-for">ENS Price Analysis: Strong Upside Potential for</h2>
<p>Crypto analyst Cold Blooded Shiller has <a href="https://x.com/ColdBloodShill/status/1807583579309760521" target="_blank" rel="noopener noreferrer nofollow">shared </a>some insights on the ENS price. According to him, ENS chart has broken out of a range that has been in place for two and a half years.&nbsp;&nbsp;</p>
<p>JAVON MARKS, another well-known analyst, has set an ambitious target of $76.121 for ENS. The analyst notes that as long as the breakout holds, there could be an additional 138% upside potential for ENS.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ENS&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ENS</a> (Ethereum Name Service)'s price surges, creating new post-breakout highs on a major candle here towards the $76.121 target!<br><br>As a breakout holds keeping this target remains in play, another +138% upside could be on the way for ENS, and it may come in quickly… <a href="https://t.co/wtnuNL4STs" target="_blank" rel="noopener noreferrer nofollow">https://t.co/wtnuNL4STs</a> <a href="https://t.co/l2lKFZjBtc" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/l2lKFZjBtc</a></p>— JAVON <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1807577544683622433?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 1, 2024</a>
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<p>Analyst <a href="https://x.com/CryptoPoseidonn/status/1806673554446180635" target="_blank" rel="noopener noreferrer nofollow">Poseidon </a>provides a step-by-step outlook for ENS’s price movement. The analyst suggests that once the $28 level is broken, there is little resistance up to $40. Poseidon predicts a rise from $30 to $40 and ultimately sees a path to $120 for ENS.</p>
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<h3 class="wp-block-heading" id="multiple-resistance-levels-identified">Multiple Resistance Levels Identified</h3>
<p>Alan Santana <a href="https://www.tradingview.com/chart/ENSUSDT/CCknzbve-ENS-New-B-Wave-Trading-Above-Resistance/" target="_blank" rel="noopener noreferrer nofollow">offers </a>a more detailed technical analysis, noting that ENS is now trading above a key resistance level (depicted as a purple line in their chart). The analyst sees potential for ENS to easily move above $34, $42, and $55, with room for additional growth beyond these levels.</p>
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<h2 class="wp-block-heading" id="ecosystem-developments-bolster-bullish-sentiment">Ecosystem Developments Bolster Bullish Sentiment</h2>
<p>Several recent <a href="https://x.com/ensdomains/status/1806719704389779709" target="_blank" rel="noopener noreferrer nofollow">updates </a>in the ENS ecosystem have likely contributed to the positive market sentiment:</p>
<ol>
 <li><strong>ENSPro Launch</strong>: AlexSlobodnik has announced ENSPro, an offchain subname management platform that allows users to name 0x addresses for free. This development enhances the utility of ENS domains.</li>
 <li><strong>ENSvision Update</strong>: The ENSvision platform has released an update enabling users to easily showcase their ENS profiles.</li>
 <li><strong>ENSjs Library Optimization</strong>: The ENSjs library has been optimized, resulting in an 11% size reduction and 67 fewer dependencies.</li>
</ol>
<p>ENS has defied market conditions with its double digit surge. However, investors should wait and watch the overall market conditions before trying to make a decision.</p>
<p><strong><em>Read more: <a href="https://captainaltcoin.com/solanas-on-chain-activity-rises-sol-price-to-rally/" target="_blank" rel="noopener noreferrer nofollow">Solana’s On-Chain Activity Rises – SOL Price To Rally?</a></em></strong></p>
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<p>The post <a href="https://captainaltcoin.com/heres-why-ethereum-name-service-ens-price-is-pumping/" rel="noopener noreferrer nofollow">Here’s Why Ethereum Name Service (ENS) Price Is Pumping</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Here’s Why Ethereum Name Service (ENS) Price Is Pumping

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