Ethereum Name Service (ENS) Price Prediction 2022 — Will ENS Hit $20 Soon?
- Bullish ENS price prediction is $22.09 & $38.30.
- Ethereum Name Service (ENS) price might also reach $20 soon.
- Bearish ENS price prediction for 2022 is $7.77.
In Ethereum Name Service (ENS) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about ENS to analyze the future movement of the cryptocurrency.
Ethereum Name Service (ENS) Current Market Status
According to CoinGecko, the price of Ethereum Name Service (ENS) is $17.23 with a 24-hour trading volume of $58,429,623 at the time of writing. However, ENS has increased by nearly 3.3% in the last 24 hours.
Ethereum Name Service (ENS) has a circulating supply of 25,783,233 ENS. Currently, Ethereum Name Service (ENS) trades in cryptocurrency exchanges such as Binance, WhiteBIT, LBank, OKX, DigiFinex and Coinbase Exchange.
What is Ethereum Name Service (ENS)?
On the Ethereum blockchain, there is a decentralized name system called Ethereum Name Service (ENS). Users can purchase names like “bob.eth” that are human-readable and map them to identifiers like addresses, content hashes, and metadata.
ENS is frequently compared to the internet’s version of DNS, the Domain Name Service (DNS) used by websites like google.com to provide human readable names while mapping against IP addresses.
In contrast to a DNS, ENS domains are controlled by smart contracts and are held by a DAO as opposed to a centralized authority like ICANN. Similar to purchasing an internet domain name, anyone can buy and sell an ENS name.
Ethereum Name Service (ENS) Price Prediction 2022
Ethereum Name Service (ENS) holds the 88th position on CoinGecko right now. ENS price prediction 2022 is explained below with a daily time frame.
The above chart of Ethereum Name Service (ENS) laid out the ascending channel pattern, also known as the rising channel. The upper and lower trend lines that connect the higher highs and higher lows respectively appear to move within a rising slope. This pattern is generally a characteristic of a bullish trend.
Currently, Ethereum Name Service (ENS) is in the range of $16.92. If the pattern continues, the price of ENS might reach the resistance levels of $16.25, and $20.71. If the trend reverses, then the price of ENS may fall to $12.82 and $11.25.
Ethereum Name Service (ENS) Support and Resistance Levels
The chart below shows the support and resistance levels of Ethereum Name Service (ENS).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Ethereum Name Service (ENS).
| Resistance Level 1 | $22.09 |
| Resistance Level 2 | $38.30 |
| Support Level 1 | $13.67 |
| Support Level 2 | $7.77 |
ENS /USDT Support and Resistance Levels
The charts show that Ethereum Name Service (ENS) has performed a bullish trend over the past month. If this trend continues, ENS might run along with the bulls overtaking its resistance level at $38.30.
Accordingly, if the investors turn against crypto, the price of Ethereum Name Service (ENS) might plummet to almost $7.77, a bearish signal.
Ethereum Name Service (ENS) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Ethereum Name Service (ENS) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of ENS lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Ethereum Name Service (ENS) is shown in the chart above. Notably, Ethereum Name Service (ENS) price lies above 50 MA (short-term), so it is in an uptrend. Currently, ENS has entered a bullish state. Therefore, there is a possibility of a reversal trend of ENS at any time.
Meanwhile, the relative strength index (RSI) of the ENS is 56.45. This means that Ethereum Name Service (ENS) is in an overbought state. However, this means a major price reversal of ENS may occur in the upcoming days. So, traders need to trade carefully.
Ethereum Name Service (ENS) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Ethereum Name Service (ENS). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Ethereum Name Service (ENS). Currently, the ADX of ENS lies in the range of 27.36 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Ethereum Name Service (ENS). RVI measures the constant deviation of price changes over a period of time. The RVI of ENS lies above 50, indicating high volatility. In fact, the RSI of Ethereum Name Service (ENS) is at 56.45, thus confirming a potential sell signal.
Comparison of ENS with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Ethereum Name Service (ENS).
From the above chart, we can interpret the price changes of BTC, ETH and ENS are moving in a similar trend. This indicates that when the price of ETH and BTC increases or decreases, the price of ENS also increases or decreases respectively.
Ethereum Name Service (ENS) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Ethereum Name Service (ENS) might probably attain $25 by 2023.
Ethereum Name Service (ENS) Price Prediction 2024
With several upgrades in the network, Ethereum Name Service (ENS) might enter a bullish trajectory. If the coin grabs the attention of major investors, ENS might rally to hit $30 by 2024.
Ethereum Name Service (ENS) Price Prediction 2025
If Ethereum Name Service (ENS) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, ENS would rally to hit $35.
Ethereum Name Service (ENS) Price Prediction 2026
If Ethereum Name Service (ENS) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, ENS would rally to hit $40.
Ethereum Name Service (ENS) Price Prediction 2027
If Ethereum Name Service (ENS) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, ENS would rally to hit $45.
Ethereum Name Service (ENS) Price Prediction 2028
If Ethereum Name Service (ENS) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, ENS would hit $50 in 2028.
Ethereum Name Service (ENS) Price Prediction 2029
If investors flock in and continue to place their bets on Ethereum Name Service (ENS), it would witness major spikes. ENS might hit $55 by 2029.
Ethereum Name Service (ENS) Price Prediction 2030
With greater advancements in the Ethereum Name Service ecosystem, the crypto community might continue to invest in ENS for the next 8 years and drive significant price rallies for the token. Hence, Ethereum Name Service (ENS) might hit $60 by 2030.
Conclusion
With continuous improvements in the Ethereum Name Service Network, we can say that 2022 is a good year for ENS. For this reason, the bullish price prediction of Ethereum Name Service (ENS) in 2022 is $38.30. On the other hand, the bearish price prediction of Ethereum Name Service (ENS) price prediction for 2022 is $7.77.
Furthermore, with the advancements and upgrades to the Ethereum Name Service ecosystem, the performance of ENS would help to reach above its current all-time high (ATH) of $83.40 very soon. But, it might also reach $20, if the investors believe that ENS is a good investment in 2022.
FAQ
Ethereum Name Service is an open, distributed, and extensible naming system based on the Ethereum blockchain.
Ethereum Name Service (ENS) has been listed on many crypto exchanges which include Binance, WhiteBIT, LBank, OKX, DigiFinex and Coinbase Exchange.
With the ongoing developments and upgrades within the Ethereum Name Service platform, Ethereum Name Service (ENS) has a high possibility of reaching its ATH soon.
On November 11, 2021, Ethereum Name Service (ENS) reached its new all-time high (ATH) of $83.40.
Ethereum Name Service (ENS) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Ethereum Name Service in the past few months, ENS is considered a good investment in 2022.
Ethereum Name Service (ENS) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Ethereum Name Service (ENS) will hit $20 soon.
Ethereum Name Service (ENS) price is expected to reach $25 by 2023.
Ethereum Name Service (ENS) price is expected to reach $30 by 2024.
Ethereum Name Service (ENS) price is expected to reach $35 by 2025.
Ethereum Name Service (ENS) price is expected to reach $40 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Recommended For You :
Read more: https://thenewscrypto.com/ethereum-name-service-ens-price-prediction-2022-will-ens-hit-80-soon/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
