ENS wait for entryENS had broken the long-term horizontal resistance some day agos. Retest is on-going.
For short-term trade, i'm waiting the scenario as in chart.
For long-term hold, accumulation can start around this price.
Invalidation is when a 2D candle closed betlow the long-term resistance.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
ENSUSDT trade ideas
ENSUSDTENSUSDT is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is also the healthy Fib retracement level and local support as well. if the market successfully sustain this buying confluence the next leg up could go for new HH.
What you guys think of this idea?
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.
ENS New B-Wave | Trading Above ResistanceENSUSDT — Now trading above resistance (the purple line on the chart).
➖ It has been growing since October 2023 and shows room for additional growth; much more growth is possible on this chart setup/trading pair.
👉 It can easily move above $34, $42 and $55... More details on the chart.
Namaste.
ENSUSDT Trade Setup.Hello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
ENS broke above the ascending triangle pattern and it is gearing up for a potential rally of 80% to 90%.
Entry: $24.213 to CMP.
Leverage: 2x to 5x.
SL: $23.57
Targets:
T1- $31.18
T2- $35.56
T3- $40.17
T4- $43.11
T5- $46.47
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Ethereum Name Service Flashes Bullish Ichimoku Signal 👉 Here's What Has Happened
Today, ENS flashed one of the most reliable trade signals: the Ichimoku signal. This signal combines different indicators and validates the trade setup on multiple timeframes. As a result, its win rate usually outperforms many other signals.
ℹ️ Signal Details
The signal flashed on the daily chart and had exceptional backtest results. Although the number of backtest signals is relatively low, the performance is clear: Every time this signal flashed, the price of ENS pumped by more than 10%.
💹 Other Technical Indicators
Most momentum indicators are in the neutral zone and, therefore, support the signal. Many trend indicators have turned bullish.
📉 What about the chart
ENS's 1D chart indicates a potential outbreak above the 27.5 level, which would open the road to this signal's profit target.
Ethereum Name Service ENS price strong but there is a nuanceGiven the media hype surrounding the CRYPTOCAP:ETH ETF and the word #Ethereum, which is also in the name of the #ENS token, it's no surprise that #ENSUSD price has been rising so well over the past week
#ENS is an Ethereum Name Service token used to manage the protocol and influence the pricing decisions of its .eth address and price oracle.
Since the story around the #ETH ETF is not yet fully resolved, we can assume that there is still potential for growth in the ENS price, at least to $39-40.
🔽But looking at the #ENSUSDT chart, we see some rather “dangerous” shadows that may suggest that someone is selling aggressively.
Therefore, we would probably risk buying #ENSUSDT no earlier than $21.30, but for now, we are watching this asset.
ETHEREUM NAME SERVICEPosted this earlier in the premium channel for the VIP and it is already doing profits. Nothing much, chart is self explanatory. The invalidation level was stated on the premium channel. BINANCE:ENSUSDT
OTHER ANALYSIS
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ENS Analysis: Spot Purchase in a Bearish Market?🔍Let's dive into today's analysis. Today, I want to analyze the ENS coin in the weekly timeframe, which could present a suitable opportunity to add this coin to your spot portfolio.
👑 Bitcoin Analysis
📈 As usual, let's first look at Bitcoin. Bitcoin has finally lost the support at 64429, and new downward momentum has entered the market. Currently, the first obstacle for Bitcoin's decline is at 63292, but it doesn't seem likely to hold off the bearish momentum. Bitcoin will probably move towards the 60681 support.
⚠️ If it finds support at this level, we need the market to create a new structure for a long position. If you already have a position, it's advisable to secure profits. For short positions, you can open one upon breaking 63292.
⏳ In the short term, we are likely to wait for the SMA7 to reach the candles, bringing new momentum into the market. The next trigger for RSI confirmation is the 30 level. Once this level breaks, it can confirm the entry of bearish momentum, likely leading to sharp downward candles.
ENS Analysis
🌐 Now, let's move on to ENS (Ethereum Name Service). I've previously explained this project in past analyses. ENS stands for Ethereum Name Service, which assigns a domain to your wallet to make asset transfers easier, similar to how a domain makes website navigation easier compared to using an IP address.
Weekly Time Frame
📅 In the weekly timeframe, as you can see, there's a very strong bullish candle. If it can close above the 26.39 resistance, it indicates that buyers have substantial power in this coin. After starting its upward movement and reaching the 26.39 resistance, it corrected to the 0.5 Fibonacci level, forming an accumulation zone. The POC Volume Fixed Range overlaps with this zone, pushing the price back up towards the 26.39 resistance. The buying volume has increased significantly over the past weeks, and now it is ready for a substantial upward movement. The SMA7 is also supporting the price well, maintaining the momentum in this coin.
🎯 The target for this movement can be, firstly, the 1 Fibonacci extension at 44.87 and, secondly, the 1.618 level at 93.98. These targets can be easily reached if sufficient volume enters this coin. Breaking 66.25 in RSI can provide the necessary momentum for the price to move towards these levels.
🚫 If a candle closes below 20.58, the bullish scenario fails, and a new structure is needed to consider buying this coin.
ENS/BTC Analysis
🪄 Now, let's explore why I'm recommending buying this coin for spot purchases in a bearish market. This chart shows ENS/BTC, the ratio of ENS to BTC. As you can see, it is breaking the resistance at 0.0003473 and can move up to 0.0005745. The SMA25 is also supporting the price well, bringing momentum into the market. The targets for this upward movement are 0.0005745 and 0.0010319.
📝In summary, despite the overall bearish momentum in the market, ENS presents a strong opportunity for spot purchase. The technical indicators and volume trends suggest a potential upward movement. If key resistance levels are broken and the RSI supports the trend, significant gains could be achieved. However, caution is advised, and it's important to watch for key support levels to avoid potential losses.
🧠💼 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.
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