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The $18.000 price level is becoming a major resistance that Ethereum Name Service needs to break if it must continue the uptrend. The price of the market was rejected at $18.00 on the 9th of October. And as a result of this, the market trended downward continuously for the whole of yesterday’s trading session. But in today’s session, the bulls are making effort to take the market as they attempt the $18.00 price level again.
Ethereum Name Service Market Price Statistic:
- ENS/USD price now: $16.350
- ENS/USD market cap: $330,748,830
- ENS/USD circulating supply: 20,244,862.09
- ENS/USD total supply: 100,000,000
- ENS/USD coin market ranking: #99
Key Levels
- Resistance: $ 18.00, $18.50, $19.00
- Support: $17.00, $16.50, $16.00
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Ethereum Name Service Market Price Analysis: The Indicators’ Point of View
The bullish recovery in the Ethereum Name Service market today has not covered much ground, but the volume of trade in the market is considerably increased (reaching up to 16,000). With this high volume of trade, even the bullish price recovery that has been made could still be lost due to the volatility in today’s market. All along the RSI indicator has made moderate advances in the bullish zone, but now, due to yesterday’s bearish market, the line has found a lower measure at 54%. And the RSI line is still facing an upward position. That means the bulls are still in the game.
ENS/USD 4-Hour Chart Outlook
Since the session opened today, bulls have been making impressive efforts to recover their position in the ENS market. Their efforts were met with strong resistance from the bears. But in the third session, the number of traders willing to sell than buy slightly increases. The price of this crypto may consolidate at this point in the market.
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