The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain.ENS’s job is to map human-readable names to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata.
ENSUSD trades weak after a minor pullback.
Any daily close above $35 confirms further bullishness.
ENSUSD gained more than 80% in past three weeks.The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $34.32 and is currently trading around $26.97.
The bullish invalidation can happen if the pair closes below $15. On the lower side, the near-term support is $24.70. Any break below the target is $20/$15. Any violation below $15 targets $12.50/$10.
The immediate resistance stands at around $35. Any breach above confirms bullish continuation. A jump to $40/$46.55 is possible. A surge past $50 will take it to $60.
It is good to buy on dips for around $23 with SL around $20 for a TP of $35.
