ENS Price Prediction – October 7
Another round of an upward force has surfaced in the ETN/USD market operations as the crypto trade hits a high point around the $18 resistance line sometime around the August 6th trading session this year. The last thirty days have witnessed a low and a high between the $12.23 and $17.79 value lines. Price now trades at $16.96 at a negative 1.20%.
ENS Price Statistics:
ENS price now – $16.96
ENS market cap -$343.3 million
ENS circulating supply – 20.2 million
ENS total supply – 100 million
Coinmarketcap ranking – #99
Resistance levels: $18, $22, $26
Support levels: $15, $13, $11
ENS/USD – Daily Chart
The ENS/USD daily chart showcases that the crypto market hits a high point around the $18 resistance level and has been in the zone against further upsurges in the last two months. The 14-day SMA indicator maintains a $15.2039993 point at the top of the 50-day SMA indicator’s value line at $14.1571643. The short bullish trend line drew to mark the logical point where the price has swung northward. The Stochastic Oscillators are in the overbought region, keeping range values of 85.71 and 88.01, signaling an attempt to close their lines soon.
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Is it technically ideal to stop buying orders when the ENT/USD market reaches $18?
It has that the ENT/USD market hits a high point around the $18 resistance level as it occurred in the last two months. It would be technically okay to put any further buying orders on hold for a while at this particular time. The price must run a retracement toward any of its two SMA trend lines below purposely to regain support at a lower-trading spot afterward. Buyers needed to be cautious and patient until other patterns formed to suggest other rounds of upswing processes.
On the downside of the technical, it appears apparent that the ENT/USD market sellers have been gradually regaining strength to push southward back against the trending capacity of the former trading instrument. The resistance-trading line around the $18 level has not to be breached sustainably northward for a long time in other not to put the short-position placer under a condition of hardening to get a re-selling entry order.
ENS/BTC Price Analysis
Ethereum Name Service majorly continues to hold a bullish trending outlook against Bitcoin over several days, using the northward-trending posture of the smaller SMA for the basis of correction before regaining the energy to swing up back to the upside direction. The 50-day SMA indicator is underneath the 14-day SMA indicator. And they are both pointing northward. The Stochastic Oscillators have traveled northbound from the 40 range to the positions of 72.47 and 84.67 range values. A bearish candlestick is in the making to denote the possibility of the base crypto declining in a gradual moving mode soon.
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