Is It Too Late To Buy ENS? Ethereum Name Service Price Soars 42% On ETH ETF Optimism And This Cryptocurrency Might Be Next To Explode

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The Ethereum Identify Service value has soared by 42% prior to now 24 hours to commerce for $20.88 as of 08:04 a.m. EST on buying and selling quantity that skyrocketed 1,500%.

The pump comes on the again of developments that recommend ETH ETFs (exchange-traded funds) usually tend to achieve approval this month than was beforehand thought. The information, which factors to a brighter future for decentralized finance (DeFi), has prompted a rally amongst tokens constructed atop the Ethereum blockchain.

Ethereum Identify Service (ENS) is a distributed, open, and extensible naming system primarily based on the Ethereum blockchain. ENS converts human-readable Ethereum addresses into the machine-readable alphanumeric codes from wallets like Metamask.

The aim of Ethereum Identify Service is to make the Ethereum-based internet simpler to entry and comprehend for people.

Ethereum Identify Service Value Prediction

The Ethereum Identify Service has recorded two god candles on the one-day timeframe. It represents a surge of unprecedented magnitude, signaling a bullish pattern available in the market. Notably, the surge has seen the ENS value foray into the Fibonacci Golden Zone. This zone stretches from $20.34 to $25.87, marked by the 38.2% Fibonacci retracement stage to the 61.8% Fibonacci retracement stage.

The Relative Energy Index (RSI) is climbing, pointing to rising bullish momentum. This stance is strengthened by the place of the Transferring Common Convergence Divergence (MACD) above the orange band of its sign line. Moreover, the amount profile exhibits spikes in nodes, suggesting bullish sentiment.

Primarily based on the Fibonacci retracement indicator, the Ethereum Identify Service value might lengthen the positive aspects to the 50% Fibonacci placeholder of $23.10. In a extremely bullish case, the positive aspects might see the ENA value flip the 61.8% Fibonacci retracement stage right into a assist. A secure transfer and shut above this important stage would set the tempo for a continuation rally.

The Parabolic Cease and Reverse (SAR) indicator can be trailing the Ethereum Identify Service value from beneath. For so long as this price-tracking indicator continues to comply with the asset’s value from beneath, the ENS value is certain to be bullish.

Ethereum Name Service

GeckoTerminal: ENS/USD 1-day chart

Converse Case

Then again, if merchants resort to early revenue reserving, the Ethereum Identify Service might drop beneath $20.34. An prolonged leg down might ship the ENS value beneath the 23.6% Fibonacci retracement stage of $16.91.

In a dire case the place the Ethereum Identify Service value information a decrease low beneath the April 13 backside of $11.38, the bullish thesis can be invalidated.

In the meantime, whereas there’s a lot optimism amongst buyers in regards to the outlook for ENS, there’s equal bullishness over the prospects for brand new ICO Mega Cube (DICE), a Solana GameFi coin that’s already raised over $1.24 million in presale.

In line with Crypto analyst and YouTuber 99Bitcoins, with greater than 700k subscribers, DICE might 100X after launch.

Promising Different To Ethereum Identify Service

Mega Cube makes use of cryptocurrency and superior expertise as a method of offering a smoother and safer on-line on line casino expertise. The platform integrates cryptocurrencies for quicker transactions and decrease charges, which then eliminates the necessity for cumbersome downloads.

The platform already has over 50,000 gamers and handles greater than $50 million in month-to-month bets. It presents over 4,000 video games and plenty of sports activities and eSports betting choices.

The venture is the primary GameFi venture on the Solana blockchain, and goals to problem the on line casino sector titan Rollbit Coin.

Token holders may also earn via the platform’s staking possibility, with the group setting apart 10% of its complete 420 million token provide as rewards.

Group members may also take part within the DICE Season 2 Airdrop, providing an opportunity to get a share of a $750,000 allocation. Airdrop contributors should wager $5,000 or extra between Could 15 and 28 June, 2024, to qualify.

If you happen to’d like to affix the presale, you should purchase $DICE on the official web site right here for $0.075 per token utilizing BNB, ETH, or SOL. You can too earn 10% on any purchases made by buyers you refer.

Additionally Learn:

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