Ethereum Name Service (ENS) 153% Rally ‘Underway’, Analyst Says
July 25 2024 - 5:30AM
NEWSBTC
Even though the crypto market has been quite unstable, Ethereum
Name Service (ENS) has been showing a lot of growth potential. ENS
has shown it can bounce back with an almost 4% rise in the last
week. Its success over the last 30 days has been even better, with
a 15% increase. People think that the release of Ethereum ETFs will
be a big part of making ENS more well-known and appealing. These
ETFs are a big change in the world of cryptocurrencies, and they
might get more investors interested. Related Reading: Is The US
Emulating Germany? $4 Million Bitcoin Movement Raises Questions As
Ethereum ETFs become more popular, they could lead to more demand
for Ethereum-based assets, such as ENS, which would make it even
more visible in the market. The price of ENS is $25.80 right now,
and it’s worth $852 million on the market. Ethereum Name Service:
Market Sentiment Even though ENS lost 9% in the last 24 hours, the
general direction for the altcoin remains positive. Bitcoin’s
recent drop to $65,500 is one factor that caused this short-term
drop. This has put downward pressure on altcoins, including ENS.
But Bitcoin has recently risen from its support level, which could
mean that the negative pressure is over. $ENS (Ethereum Name
Service) sustaining majorly here and returning with signs of
strength towards the $76.121 target! With a breakout holding and
significant progress towards this target already taking place, the
run to meet it can already be underway and another +153% from here…
https://t.co/hgiLnXUevs pic.twitter.com/sQWCVajAKC — JAVON⚡️MARKS
(@JavonTM1) July 23, 2024 The market is once again feeling
optimistic, which means that the price drop for ENS might not last
long. As the market as a whole improves, Ethereum Name Service is
ready to take advantage of the good vibe. This makes it an
interesting asset for buyers to keep an eye on in the coming weeks.
The well-known cryptocurrency expert Javon Marks has made a
positive prediction about Ethereum Name Service. He thinks that its
price will go up a lot. In fact, he said the altcoin’s price
increase is “underway.” He estimates the altcoin to hit the $76.12.
ENS has been breaking out in a way that he thinks shows a lot of
strength and resolve. Analyst Predictions Marks talks about how
current changes at the price point could be the start of a big
rise. He predicts that the price of ENS could go up by about 153%
from where it is now to this goal. Based on fundamental analysis
and market trends, this confidence shows that ENS is in a great
place to grow. The altcoin is moving 228% below its 1-month
forecast, but Coincheckup predicts an upswing in seven days. This
massive undervaluation signals tremendous potential. Positive news,
technical signs, or market rebound may fuel the upswing.
Coincheckup sees a 245% price increase in three months for ENS.
With maintained good momentum, it predicts 180.55% growth over six
months. The one-year projection suggests a 166.70% gain, indicating
long-term confidence in the asset’s appreciation. Related Reading:
Will PEPE Climb 30% This Week? This Analyst Thinks So The coin
market is always changing. People who trade in and watch the market
will be very interested in how ENS does in the coming weeks and
months. This is especially true given the current state of the
market and the impact of new items such as Ethereum ETFs. Featured
image from Rolling Stone, chart from TradingView
Ethereum Name Service (COIN:ENSUSD)
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