Ethereum Name Service really took off in late 2023. March 2024 did nothing to this project. Here we can see an extended period of higher highs until December 2024. Many projects produced a major high in March 2024 to turn bearish until recently. In December, all of these produced a lower high. You can see how different this chart looks. This is a strong project the chart is saying.
There was a strong correction between December and April, this was a marketwide event. You can see how ENSUSDT moved below 0.786 Fib. retracement for several months just to recover. In June it remained below this level only briefly, for two weeks, and we are now full green.
Last week's candle closed above 0.618 Fib. retracement and we are back in the bullish zone. Full blown bullish as Ethereum Name Service is trading at the highest price since January 2025. Everything shows the market being ready for additional growth.
The recovery above support never supports a crash but instead a bullish continuation. For a crash, we would see a rejection or very weak action around resistance. Instead, we have full green candles with rising volume. Perfect conditions for higher prices. Just what we need and want to see.
The targets here are good, $131 and $208. I don't think this will be the end though and we have another wait and see. I think between $285 and $361 is a better prediction, these targets are also shown on the chart.
How far up do you think ENS will go?
Namaste.
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