CryptoPM

$ENS

Ethereum Name Service (ENS) rose 19% in 24h due to Coinbase Germany listing, whale accumulation, and bullish technicals.

Coinbase Germany listing boosted accessibility and speculation

Whale activity surged 313% in early July per Santiment

Technical breakout above key resistance at $23.47 pivot point

Deep Dive

1. Primary catalyst

ENS was among 16 tokens added to Coinbase Germany on July 10, expanding access to Europe’s largest crypto market. Listings typically trigger:

Immediate liquidity influx (24h volume up 203% to $382M)

Speculative positioning from retail traders

Follow-on coverage from crypto media outlets

2. Technical context

ENS broke above its 30-day SMA ($19.58) and pivot point ($23.47) with:

RSI14 at 72.36 (approaching overbought)

MACD bullish crossover (0.82 vs 0.24 signal line)

Next resistance at $26.71 (127.2% Fibonacci extension)

The move liquidated $2.1M in shorts within 24h, amplifying upside momentum.

Conclusion

ENS’s rally combines exchange-driven liquidity, technical momentum, and Ethereum ecosystem growth (ENSv2/L2 plans). With altcoin season index rising 32% monthly,

can ENS sustain momentum above its 200-day EMA at $20.85 despite overextended RSI?

#ENS #Macro Insights# #AltSeason