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ENSUSDT trade ideas

📈Analysis for Potential Long and Short Positions in ENS✨🔍Today's market position offers a pivotal moment, potentially setting the trajectory for the next 2-3 months. Following a minor downturn yesterday, altcoins have once again approached the lower end of the trading range. This juncture demands vigilance, especially considering potential short positions upon breaking support levels to avoid missing out on market movements. 🔄Bitcoin has activated its trigger yesterday, signaling market activity. Therefore, I've identified ENS (Ethereum Name Service) as a coin still holding its support. ENS allows users to convert Ethereum addresses into unique NFTs, simplifying transactions. Feel free to send any funds to my address parham96.eth; it's my pleasure to receive them! ✅Utilizing price action analysis with a classical approach, focusing on breakout patterns, I've conducted an analysis on ENS. 💎A Fibonacci retracement from the previous downturn indicates a correction to 61.8%, suggesting diminished downward momentum. A range box has formed between 0.618 and 0.236 Fibonacci levels, with a ceiling at 16.8 and a floor at 14. This range has tested the 0.5 level twice, forming a Head and Shoulders pattern with neckline support at 14 and a potential first target at 12.45. During range-bound trading, closing positions at risk-to-reward ratios of 2 or 3 is advisable, building a foundation for risk-taking in future trends. Confirmation of trend reversal can be sought through RSI, with a break below 31.47 signaling potential significant price movements. For long positions, a risky scalp entry can be considered upon breaking 14.39, with risk-to-reward ratios emphasizing conservative targets. RSI confirmation below 42.63 can further validate the signal. 📈For long positions, entry confirmation is contingent on increasing buying volume, ensuring logical market participation. 🛒If ENS appears promising to you, please leave a comment for analysis feedback. Moreover, if there's considerable demand for spot buying analysis, I'll provide daily or weekly timeframe analysis for your convenience. ⚡️This analysis aims to equip traders with insights for potential positions, emphasizing risk management and strategic entry points in ENS trading. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
ENS could really start to move hereKeeping this one simple and stupid as always. Think the upcoming ETH ETF approval should generate a massive liquidity inflow in all ETH-related projects - But unfortunately I don't see many talking about ENS. Anyway, pretty sure this one will profit from the money inflow as well and this might be the start of a trend reversal on a macro-scale. I'm looking for 20$ and higher in the coming months. Market structure would support this idea. Stay safe!
by TV288
✴️ Ethereum Name Service Trade Numbers (212% Potential Profits) ➖ We have a bottom formation, Adam & Eve, developing and prices trading above the May 2022 low (grey on the chart). ➖ We have a strong RSI as prices moved recently above EMA10 and EMA21. ➖ We have a broken downtrend. Simple signals yet very strong. Once we hit bottom, the only place left to go is up! ------ ENTRY: $7.65 - $8.50 NEXT SUPPORT: $7.00 TP1: $11.1 TP2: $13.5 TP3: $15.7 TP4: $18.2 TP5: $21.1 TP6: $25.2 STOP: Close weekly below $6.65 ------- The numbers are shared for reference only. Make sure to do your own research before trading. This is not financial advice. All the information shared here is for educational purposes only. Thanks a lot for your continued support. Feel free to follow if you enjoy the charts. Namaste.
Long
by MasterAnanda
2
Premium Crypto idea $$$$ #ENSUSDTENSUSDT is facing resistance, indicating a potential selling opportunity for day traders. The price has failed to break above this level, suggesting a reversal may be imminent. The overbought conditions on the RSI further support the idea of a short-term price decline. Day traders may consider selling ENSUSDT to profit from this potential downside movement. It is important to set appropriate stop-loss levels to manage risk effectively. Entry: 14.786 SL: 14.885 Target 1: 14.426 Like share and comment for more Click the follow button #crypto #daytrading #signal #analysis #moneymanagement Trade God out
by TradeGod003
1
ENS Targets a New All Time HighEthereum Name Service (ENS) is a decentralized naming system on the Ethereum blockchain, converting human-readable names like john.eth into machine-readable Ethereum addresses. It also allows the reverse, associating metadata and machine-readable addresses with human-readable Ethereum names. I believe that the macro price action on ENS targets a new all time high up to 700$ The clear stoploss that cancels the whole idea is any drop below 7.70$ #ENS
Long
by MohamedSewid
2
ENS Ignited: Don't Miss Out on This Buy Trade**Technical Analysis Chart Description:** Welcome to my Technical Analysis charts on TradingView! Before we dive into the analysis, it's essential to understand some important warnings: 1. **Subjectivity Alert:** Technical analysis involves interpreting market data and chart patterns, which can be subjective. Different analysts may interpret the same data differently, leading to varied conclusions. 2. **Historical Performance Doesn't Guarantee Future Results:** Past price movements do not guarantee future price movements. While historical data can provide insights, it's crucial to consider other factors that could influence price action. 3. **Risk of False Signals:** Technical indicators and chart patterns can produce false signals, leading to potential losses if relied upon blindly. Always cross-verify signals with other indicators or fundamental analysis. 4. **Market Volatility:** Crypto markets are highly volatile and can experience rapid price fluctuations. Be prepared for sudden and unexpected price movements, which may invalidate previously identified patterns. 5. **Risk Management:** Proper risk management is essential. Never invest more than you can afford to lose, and consider using stop-loss orders to mitigate potential losses. 6. **Emotional Bias:** Avoid emotional decision-making based on short-term price movements. Stick to your trading plan and strategy, and don't let fear or greed influence your decisions. **Disclaimer for Crypto Trading:** Trading cryptocurrencies carries inherent risks, and it's important to understand the following: Cryptocurrency markets are highly speculative and can be subject to extreme volatility. Prices can fluctuate significantly within short periods, leading to substantial gains or losses. Investing in cryptocurrencies involves the risk of total loss of capital. Unlike traditional assets, cryptocurrencies are not backed by any tangible assets or central authority, making them inherently risky. Regulatory uncertainty and market manipulation are additional risks associated with cryptocurrency trading. Regulatory changes or negative news can have a significant impact on prices. This analysis is for informational purposes only and should not be construed as financial advice. It's crucial to conduct thorough research and consult with a qualified financial advisor before making any investment decisions in the cryptocurrency markets. By using this analysis, you acknowledge and accept the risks associated with cryptocurrency trading and agree to trade at your own discretion. The author of this analysis shall not be held responsible for any losses incurred as a result of using the information provided.
Long
by MoonTradingForecast
ENS looks bearish !The correction has started from where we entered "START" on the chart. It seems that we are in an ABC or a more complicated pattern. Now it looks like wave B, which was a triangle, is over. And we have entered bear C wave. The targets are marked on the chart. When we reach the first target, save some profit and then change the stop to entry Closing a daily candle below the invalidation level will violate the analysis For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
Short
by behdark
ENS/USDT Break down the support, Potential visit on Bullish OB!💎 Paradisers, #ENS has recently undergone notable market dynamics. After breaking down the support level, it has transformed into a resistance zone. 💎 If #ENS fails to reclaim the price above this resistance, there's potential for further downward movement, with the next likely target being the Bullish OB area. 💎 However, if #ENS successfully reclaims and breaks out above the resistance level once more, there's potential for the price to revisit the key resistance area. A subsequent breakout above this level could pave the way for a move toward our target at the Bearish OB and supply zones.
by MyCryptoParadise_Nathan
ENS Sailing the Crypto Seas: A Strong Buy Signal Beckons!Ethereum Name Service (ENS) Coin: The Basics What is it? ENS is the governance token of the Ethereum Name Service, a system that translates long, complex Ethereum addresses into human-readable domain names (like "yourname.eth"). This makes interacting with the Ethereum blockchain easier and more user-friendly. Token Utility: Governance: ENS token holders can vote on proposals that affect the ENS protocol, such as setting fees for registering .eth domains. Staking: While not currently implemented, staking ENS tokens may grant holders additional benefits in the future. Recent News: There haven't been any major news headlines about ENS specifically, but the broader cryptocurrency market has seen some volatility recently. Disclaimer: I am not a financial advisor and this is not financial advice. Investing in cryptocurrency involves a high degree of risk. Do your own research before making any investment decisions.
Long
by MoonTradingForecast
ENS/USDT Primed for a Bullish Journey? 👀🚀ENS Analysis💎 Paradisers, let's focus on #ENSUSDT, as it's currently showcasing a pattern that hints at a potent bullish swing from its demand zone. 💎 Observing #EthereumNameService recent market behavior, we noted a significant 46% drop following a rejection at a major supply level. Despite this, it's shown resilience at the $14.90 demand level, hinting at an upward trajectory. 💎 However, with the price struggling to set new highs or break past previous ones, short-term market sentiment leans towards selling. Yet, the $14.90 mark stands out as a crucial juncture, likely to trigger another strong bullish response upon retesting. 💎 As seasoned traders, we're always thinking one step ahead. If NYSE:ENS doesn't kick off the expected climb from the $14.90 demand level and instead breaks below, we're ready to pivot our strategy. We'd then anticipate a bullish bounce from a lower demand level at $11.72, keeping in mind that falling below this level could lead to further declines.
Long
by MyCryptoParadise_Simon
ENS Breakout: A Symmetrical Signal for Bullish EntryBINANCE:ENSUSDT presents a classic bullish technical setup, captured here in a symmetrical triangle pattern nearing completion. This pattern is noteworthy as it often forecasts a continuation of the prevailing trend, which, given the prior uptrend, suggests a strong potential for upward momentum. Such formations are watched closely by traders for a confirmed breakout, signaling a robust entry point for a long position. The Setup highlights the confluence of technical indicators pointing towards a high-probability trading opportunity for a LONG entry. Bullish Setup: Symmetrical Triangle: Price is consolidating within a symmetrical triangle, suggesting indecision but often leads to a continuation of the prior trend, which is bullish in this case. Breakout: A recent breakout above the upper trendline of the triangle may indicate the continuation of the bullish trend. Perfect retest happened and Bullish uptrend is continuing. RSI: The Relative Strength Index is neutral, suggesting there is room for upward price movement without being overextended. Reasons to Consider a Long Position: Pattern Recognition: Symmetrical triangle near completion, with a breakout and a retest to the upside. Trend Continuation: Prior uptrend preceding the triangle and the retest suggests a higher probability of upward Trend. Price Target: The height of the triangle’s base added to the breakout point provides a potential price target. Trade Execution: Entry Point: Upon a confirmed breakout with high volume. Stop Loss: Just below the lower trendline of the triangle to minimize potential loss. Profit Target: Based on the height of the triangle extrapolated from the breakout point. This trade setup offers a strategic entry with the breakout from the symmetrical triangle, indicating bullish sentiment. It presents a favorable risk-to-reward ratio with well-defined entry and exit points. As with any trade, it’s crucial to consider broader market sentiment and confirm the pattern with volume, and it's advisable to manage risk through stop-loss orders and to secure profits methodically. Good Luck
Long
by Lucas_CryptoLab
ENSUSDT Triangle Breakout and 90% Growth PotentialExciting news on the charts for ENSUSDT! So, after what feels like ages, we finally saw ENSUSDT break free from its year-long downtrend trendline. Price then went on to form a Symmetrical Triangle pattern, and at the start of this month, we witnessed the breakout above the triangle, accompanied by a brand-new higher high. Now, what does all this mean? Well, it's screaming bullish vibes! The persistent bullish pressure we're seeing strongly hints at an ongoing uptrend. And if we take a look at the initial upside move, we can make a pretty educated guess about what comes next. Based on the strength of the first wave, it's entirely possible that our next upside target could hit around $44. It conveniently lines up with the 161.8% Fibonacci retracement level. It looks like we're in for quite the ride with ENSUSDT!
Long
by CryptoPAMM