[Is ENS on a crazy rise? Be careful, $28 may just be the prelude to a 'high diving' situation 🎢]
ENS's recent performance has indeed been impressive 🔥! On July 31, it surged to $28.63, with a small increase of 1.3% during the day, and its market cap rose to $1.04 billion, looking strong 💪.
Even more exaggerated is that after falling to a low of $16 at the end of June, it skyrocketed by 71% in just five weeks 📈; this rebound can be described as very strong.
However, don't rush to go all in 🙅! On-chain data has begun to issue warnings ⚠️: the inflow of money to Binance is increasing, indicating someone is preparing to cash out; meanwhile, the willingness of long-term holders to increase their positions is weakening, which may suggest that selling pressure is building up.
Although the price chart still looks bullish 📊, if no one continues to 'pass the baton', ENS is likely to pull back to around $25. So friends, don’t just focus on the increase, keep some rationality, and controlling risk is key 🧘♂️📉.
Source: ENS/USDT on TradingView
From a bullish perspective on ENS, opportunities and risks coexist 🔍📈. In recent days, ENS has been challenging the resistance level of $32, but each time has been 'shut down' 🚪❌.
But don't worry, the overall market structure on the 1-day chart still leans bullish, with the $27 support area expected to become a good buying opportunity 🛒.
The momentum oscillation indicator has also given a positive signal, indicating that bullish momentum is still ongoing 💪. However, the CMF (Chaikin Money Flow) has dropped from +0.27 on July 17 to +0.05, indicating that buying pressure has weakened in the past two weeks ⚠️.
Particularly noteworthy is the $26.15 'lifeline' 🔑; if the price falls below this level, it may face adjustment risks in the short term ⏳.
However, as long as this position is stabilized, the bulls still have hope to challenge higher targets—$34 and $38 will become the next key points for the attack 🚀.
In summary, while ENS is a bit 'wobbly', the overall bullish pattern hasn't changed. For investors, patiently observing, finding good buying points, and controlling risk is key ✌️!
[Altcoin Dynamics | ENS inflow to Binance surges, selling pressure signal lights up ⚠️]
Source: CryptoQuant
Latest data shows that among altcoins, ENS's net inflow on Binance has reached a 7-day standardized average high 📊. In simple terms, more and more ENS tokens are being transferred to Binance, preparing to be sold.
This usually means that selling pressure is increasing 💥, as investors may be taking the opportunity to cash out profits or withdraw. For the short to medium-term market, this is a very clear bearish signal 🚩.
So, friends, seeing such capital flows, be sure to pay more attention to market risks, don't blindly chase higher prices, and manage risks in a timely manner 🛡️!
Source: Glassnode
[ENS positions are quietly loosening; how far can the rebound go? 🤔📉]
Recently, some data regarding ENS has raised some concerns—especially the accumulation rate of positions has been quietly declining. In simple terms, the accumulation rate is an indicator that measures whether active investors are 'buying, buying, buying' or 'selling, selling, selling' 📊.
Although this ratio briefly broke 50% in April 🎉, it has been on a downward trend since then. Even though prices are still rising, it indicates that many people are starting to sell in batches, showing a clear lack of confidence 😟.
This has raised questions in the market about the strength of ENS's upcoming rebound. After all, if the main players are hesitant to hold onto their chips, who would dare to chase higher prices?
From the cumulative transaction difference (CVD) of 90-day spot buying, the performance appears neutral, with no strong selling pressure, but buyers are not showing much strength 💪. Moreover, the volume bubble chart doesn’t indicate particularly strong bullish sentiment in the market 🔥.
Overall, sellers are likely to regain control of the market situation. The key warning line is $26.15; once it falls below this, it would be like opening the floodgates for a decline 🚪. If buyers want to turn the tide, they need to show more confidence and strength; otherwise, the rebound will be hard to sustain.
Additionally, the resistance zone of $30 to $32 is the next major hurdle; to break through it, we must see a significant increase in demand 📈. Otherwise, these price levels may continue to become 'roadblocks', causing prices to stagnate.
To sum it up, the game of ENS is not over yet, but to win, buyers need to be more competitive, and sellers are not planning to give up easily. Market sentiment is subtle, operations need to be cautious, and don't let 'impulse' decide your wallet 📉🧠!#ENS
