ENSUSDT or Ethereium Naming Service is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS is top gainer of the week with 10.44% up. The market was heavily bearish due to the BTC ETF outflows and despite of these, ENS managed to survive the wind. Earlier this month ENS approached near the $30 price mark which was the ATH of 2024 and faced a price orrection up to $19. Then ENS moved to $24.61 and is now forming a tiny cup and handle pattern. If ETH spot ETF trade commence news comes, we can see a breakout to the $30 and beyond.
The moving averages and oscillators are giving a neutral signal in daily time frame, but for weekly time frame, both are giving strong buy signals.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.