Ethereum Name Service Price Prediction for Today, June 12: ENS/USD May Gear up for Recovery Above $8.00

Updated: 29 June 2023

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The Ethereum Name Service price prediction reveals that ENS may begin to form higher as bears may soon lose grip over the coin.

Ethereum Name Service Statistics Data:

Ethereum Name Service price now – $7.67
Ethereum Name Service market cap – $218 million
Ethereum Name Service circulating supply – 28.6 million
Ethereum Name Service total supply – 100 million
Ethereum Name Service Coinmarketcap ranking – #114

ENS/USD Market

Key Levels:

Resistance levels: $10.00, $10.50, $11.00

Support levels: $5.50, $5.00, $4.50

Ethereum Name Service Price Prediction for Today, June 12: ENS/USD May Gear up for Recovery Above $8.00 — ENSUSD – Daily Chart

The Ethereum Name Service price is heading toward the 9-day and 21-day moving averages while the $7.00 support level remains the critical support where the price has been holding for some time now. Since a few days ago, ENS/USD has been trading below the moving averages and this refrains the coin from touching the resistance level of $8.00.

Ethereum Name Service Price Prediction: Will ENS Move Higher?

The Ethereum Name Service price may begin to rise and could probably cross above the 21-day moving average if the bulls increase the buying pressure. Therefore, any further bullish movement toward the upper boundary of the channel may push the price to the potential resistance levels of $10.00, $10.50, and $11.00.

Nevertheless, this technical prediction may be invalidated if the bears break below the lower boundary of the channel, any further bearish movement could touch the support levels at $5.50, $5.00, and $4.50. Moreover, the technical indicator Relative Strength Index (14) is trying to recover from the oversold region, suggesting a bullish movement.

Against Bitcoin, the Ethereum Name Service price is facing the upside with a major resistance level of 2972 SAT. The long-term moving averages may likely keep the bullish movement as the market is starting a new trend by crossing above the 9-day moving average.

However, if the buyers could push the price toward the upper boundary of the channel, higher resistance could be located at 3500 SAT and above as the technical indicator Relative Strength Index (14) remains below 30-level, indicating that buyers are coming to play. Moreover, should the bulls fail to move the current market value above the aforementioned barrier, the bears may step back into the market, and the nearest support level could be located at 2400 SAT and below.

Ethereum Name Service Alternatives

Looking at the daily chart, the Ethereum Name Service bulls are coming into the market, if the buyers put more effort and push the Ethereum Name Service price above the 9-day and 21-day moving averages, ENS/USD may likely create additional gains in the market. Meanwhile, the crypto market is back with a bang, spearheaded by popular projects like Pepe and Wall Street Memes, which are both seeing a significant uptick in investor interest. At the time of writing, WSM tokens are in presale, and almost $7 million has been raised so far, which is truly astounding.

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