In this Ethereum Name Service (ENS) price prediction 2024, 2025-2030, we will analyze the price patterns of ENS by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Ethereum Name Service (ENS) Current Market Status
ENS Current Market Status (Source: CoinMarketCap)
What is Ethereum Name Service (ENS)
The Ethereum Name Service (ENS) is a decentralized, open-source domain name system built on the Ethereum blockchain. It replaces the need for long, complex Ethereum addresses with human-readable names, making it easier to interact with blockchain addresses and decentralized applications. ENS domains are typically in the format “name.eth” and can be used to represent Ethereum addresses, smart contracts, or other resources.
ENS operates using smart contracts, ensuring security and censorship resistance. Users can register and manage their domains through an auction process or purchase them on the secondary market. ENS also supports reverse resolution, allowing users to link metadata, such as names or descriptions, to Ethereum addresses.
The service enhances the user experience within the Ethereum ecosystem by simplifying address management and promoting trust and usability. This makes it easier for users to identify and interact with addresses and resources on the blockchain. ENS is an important tool for improving accessibility and functionality in the decentralized web.
Ethereum Name Service 24H Technicals
(Source: TradingView)
Ethereum Name Service (ENS) Price Prediction 2024
Ethereum Name Service (ENS) ranks 72nd of CoinMarketCap in terms of its market capitalization. The overview of the Ethereum Name Service price prediction for 2024 is explained below with a daily time frame.
ENS/USDT Horizontal Channel Pattern (Source: TradingView)
In the above chart, Ethereum Name Service (ENS) laid out a horizontal channel pattern. A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contract points. This is because it needs at least two lows to connect, as well as two highs. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. The longer the horizontal channel, the stronger the exit movement will be. There is frequently a price on the channel after exit. the exit often occurs at the fourth contact point on one of the horizontal channel’s lines.
At the time of analysis, the price of Ethereum Name Service (ENS) was recorded at $27.32. If the pattern trend continues, then the price of ENS might reach the resistance levels of $28.51 and $49.32. If the trend reverses, then the price of ENS may fall to the support of $18.20, and $7.42.
Ethereum Name Service (ENS) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Ethereum Name Service (ENS) in 2024.
ENS/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Ethereum Name Service (ENS) for 2024.
ENS Resistance & Support Levels
Ethereum Name Service (ENS) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Ethereum Name Service (ENS) are shown in the chart below.
ENS/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Ethereum Name Service (ENS) market in 2024.
Ethereum Name Service (ENS) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Ethereum Name Service (ENS) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
ENS/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Ethereum Name Service (ENS).
Comparison of ENS with BTC, ETH
Let us now compare the price movements of Ethereum Name Service (ENS) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs ENS Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of ENS is dissimilar to that of BTC and ETH. That is, when the price of BTC and ETH increases, the price of ENS decreases, if the price of BTC and ETH decreases, the price of ENS increases. .
Ethereum Name Service (ENS) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Ethereum Name Service (ENS) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
If Ethereum Name Service (ENS) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Ethereum Name Service (ENS) price prediction for 2024 is $49.65. Comparatively, if unfavorable sentiment is triggered, the bearish Ethereum Name Service (ENS) price prediction for 2024 is $7.41.
If the market momentum and investors’ sentiment positively elevate, then Ethereum Name Service (ENS) might hit $60. Furthermore, with future upgrades and advancements in the Ethereum Name Service ecosystem, ENS might surpass its current all-time high (ATH) of $85.69 and mark its new ATH.
This content was originally published by our partners at The News Crypto.
