Ethereum Name Service (ENS) has shown significant results by breaking a long-term resistance line, creating conditions for potential further growth.
Break of Long-Term Trend
Ethereum Name Service (ENS) has managed to break above a key descending trendline on the chart, which had held as resistance since late 2022. This breakout led to a 14% price increase, confirming bullish momentum in the market.
Increase in Trading Volume and Market Capitalization
Recently, trading volume surged by 198%, indicating rising interest from investors and adding credibility to this rally. The market capitalization also increased by 18.61%, reaching $959.55 million.
Growth Prospects and Price Targets
Technical projections suggest potential price levels ranging from $48.85 to $52.77, signaling a possible 110% increase from the breakout level. These metrics confirm active market movement and a favorable scenario for investors.
Thus, ENS exhibits significantly strong trends in the market, supported by various technical data and increasing trader interest. The future looks promising for ENS.
