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ENSUSDT trade ideas

Don't Mess It Up, ENS!In this morning's live session, we discussed ENS's current setup and that the token is about to enter a crucial phase that could lead to a 30% pump or dump. Just a couple of hours later, ENS decided to enter the beast mode and pumped another 10%, with a high of $30. However, it was rejected at this level and also dipped into the crucial area between $29 - $28. Interestingly enough, the 28-level served as support in this case. Nevertheless, this looks still very fragile. In order to activate our scenario, in which we aim for a 30% target towards $38, ENS must close the daily candle clearly above the 29 levels. Let's see if it works out or if the price returns to the triangle.
by ben_walther
Ethereum Name Service — Approaching Critical Moment — 30% Up Or Ethereum Name Service (ENS) has been in a constant uptrend since May and has delivered some appealing pumps. However, ENS hasn't been able to break its long-term resistance at ~28 USD. Since March, ENS has tested the resistance several times. However, the result has been the same every time: rejection. On the daily chart, ENS is approaching the corner built of the 28-resistance and the long-term uptrend. As a result, we can expect a major move soon. To the upside, we have a 30% potential until the next major resistance at ~38 USD, and to the downside, we have identical potential towards the support at ~18 USD. Based on the long-term trend, the upcoming ETH ETF go-live, and the overall bullish market sentiment, chances for a break to the upside are higher. Nevertheless, the market is a beast. Therefore, you should watch the chart carefully and not enter a trade before a direction is confirmed. BINANCE:ENSUSDT
by ben_walther
ENS Flashed Two Buy Signal (MACD + ICHIMOKU) Ethereum Name Service (ENS) flashed two reliable bullish trade signals on the daily chart. Based on backtests, the MACD crossover has a moderate probability. However, as always, the Ichimoku signal has a high probability. Just a couple of weeks ago, ENS flashed a similar trade signal on the daily chart, resulting in >20% gains in a couple of days. The chart also looks promising: On a higher timeframe, ENS has been in a steady uptrend for weeks. Risk-averse traders might want to wait for the smaller resistance at 28-29 to break before entering a trade.
Long
by ben_walther
Deep Dive into ENS: Full Review of the Project and ENS V2📅 Let's move on to today's analysis. Today, I want to analyze the ENS coin, which is part of the Ethereum ecosystem. With this project, you can buy a domain for your wallet. 🗂 ENS v2 Update : Recently, ENS published an article and introduced the v2 update of the project, announcing that they have added a series of new features to their platform. By collaborating with L2 projects, they aim to reduce fees, increase flexibility, utilize multi-chain capabilities, and make their service more accessible, user-friendly, and cost-effective for everyone, playing a more significant role in the web3 space. ⚙️ How the Project Works : Let's dive deeper into the project and visit its website. The first image you see on the site is a very beautiful landing page. By clicking on "Launch App," you can enter the main space of the platform. 🧩 After launching the app, you need to connect your wallet to the site and search for your desired ID in the search bar. If the domain is available, you can purchase it. If it is registered, it means someone else has already bought it before you. As you can see in the example I searched for, "parham96.eth" has already been registered, but "parham96.box" is still available and hasn't been purchased yet. 🛍 After finding your desired domain, you need to confirm the transaction sent to your wallet. Currently, the cost of this operation, considering the Ethereum network fee, is about $6 for a one-year subscription. According to the project, after the v2 update, these costs will be lower. 🎈 After purchasing, to access the details of your purchased domain, click on the "My Names" section (I prefer not to show you an image of this section due to the privacy of my wallet). You can: 👤 Add a profile picture for your wallet, write a bio, and connect your social media accounts from the profile section. ⚡️ Add another address to your domain from the record section. 🎲 Change the owner of the domain or renew it from the ownership section. 🌐 Create a subdomain for yourself just like websites from the Subname section. ⚓️ Use the permission and more sections to apply other desired settings to your purchased domain. 🌱 Usefulness of the Domain : For example, the "parham96.eth" domain is mine. In this case, I don't need to send my wallet address to someone who wants to transfer to me for each transaction. Just replacing the destination wallet address with the "parham96.eth" phrase will direct the funds to the same wallet. If you search for this domain on Etherscan, you can see it is registered on the blockchain and that the ownership of the domain is also viewable as an NFT in your wallet. 🔄 Renewing the Domain: Click on "Extend," then click "Next," followed by "Open Wallet" to create a transaction. Confirm the transaction through your wallet to renew the domain. ✨ ENS Coin : The ENS project also has a very well-known coin named ENS, which is among the top 100 coins in the market with an $800 million market cap. It is listed on all reputable exchanges, making it a successful project that can achieve even greater success with the launch of ENS V2. 🔍 Technical Analysis : In the daily timeframe, after the price reached a peak of 27.61, the market entered a range, with the price oscillating between 16.58 and 27.61. Following Bitcoin's significant drop, this coin also dropped to the 12.24 area. However, with the announcement of ENS V2 and collaboration with L2 projects, it started an upward movement and returned to the 27.61 area, even briefly breaking this level before returning below it in a fake breakout. 💥 Current Momentum : The price currently lacks momentum. After the fake breakout, there should have been a bearish momentum, but nothing has happened, and the market is still ranging. 📊 Volume Analysis : The volume clearly supports the buyers, as the buying volumes significantly exceed the selling volumes. In the recent bullish candles, the selling volume has significantly decreased. 🧲 Indicators : Due to the ranging market and lack of momentum, I am not using SMAs. However, a break below 43.36 on the RSI would confirm bearish momentum entering the market. 🛒 Long Position : The price has tested the 27.61 resistance six times so far, with increasing buying volume. Given the positive sentiment around ENS V2, it is possible that a few days before the launch, the price will stabilize above this level with a large bullish candle, leaving many behind. 🛎 Short Position : On the other hand, buyers may lose interest in breaking this resistance after six attempts, allowing sellers to enter the market and push the price down. ⚖️ Investment Strategy : If you believe ENS is a good project and that ENS V2 can generate bullish momentum in the market, consider adding this coin to your portfolio and purchasing it according to your strategy. 🎯 Target Prices: If the project succeeds and gains more hype, the initial target prices are 38.10 and 49.27, with the next target being the ATH of 75.80. 👨‍💻 Futures Trading : 📈 For a long position, a candle close above 27.61 in the 4-hour timeframe can confirm an upward trend. You can look for an entry trigger in the lower timeframes like 1-hour, with a target of 32.83. 📉 For a short position, a break below 23.30 and a candle close beneath this level can confirm a downward trend, with a target of 18.94. ♟ Personally, I will try to open a long position on this coin once the price stabilizes above 27.61. For short positions, I prefer to trade a coin with negative news and lacking a strong upward trend like ENS. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
Long
by itsparham96
2
Alikze »» ENS | Ascending channel🔍 Technical analysis: Ascending channel - It is moving in an ascending channel in the daily time frame. - It is currently located in the supply area and the roof of the channel. - If it can be placed above the supply area and break the ceiling, it can touch the targets of 37.5 - 43.75. 💎 Alternative scenario: if it faces selling pressure in the supply area and the ceiling of the channel, it can have downward targets of 25 and then the middle of the channel and the green box. 🛑 Resistance range: 28 - 31.25 🟩 Support range: 18.75 - 22 »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»«««
Long
by alikze
ENS looking to breakout! The price action shows a potential for an upmove once it breaks out of the resistance level but we need the volume to support the move. Disclaimer: The information provided here is for educational purposes only and does not constitute a buy or sell recommendation. I am not a financial advisor and I reserve the right to be incorrect. Do not make trading decisions based on information from the internet. Always consult your financial advisor or conduct your own research before making any investment decisions.
by CryptoCrestHQ