Ethereum Name Service (ENS) is moving in a bullish trajectory as BTC has crossed above $78K with strong momentum. According to CoinMarketCap, its price has surged by 5.1% over the last 24 hours and 8.38% over the last week.
At the time of writing, ENS is trading at $6.26, with a trading volume of $24.31 million, which has surged by 26.13% over the last 24 hours. However, its market capitalization stands at $240.28 million, which is also up by 5.1%.
Source: CoinMarketCap
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Furthermore, the crypto analyst Crypto Patel highlighted that ENS has flashed a notable bullish shift on the daily chart after sweeping sell-side liquidity and reversing structure.
The move cleared weak positions and marked a transition in control from sellers to buyers. A confirmed market structure shift, followed by strong upward momentum, signals growing strength and the potential start of a sustained recovery phase.
After the impulsive rally, the token is now retracing into a key order block, a zone associated with prior institutional buying. This area is often viewed as a refined entry point, where price may find support before continuing.
If the level holds, it reinforces the bullish structure and suggests buyers remain in control despite short-term pullbacks or consolidation phases.
Source: Crypto Patel’s X Post
In terms of future upside objectives, there are three possible targets, namely $6.48, $6.96, and $7.21, where liquidity can be seen accumulating.
If the price reaches these targets, then it will be a confirmation that buying pressure will continue to drive liquidity towards the demand side. The pattern will no longer be valid if the token falls below $5.50.
According to TradingView, ENS exhibits recovery amid an aggressive start of the year. The current price of the token is above its 20-day moving average of $5.898 and is worth $6.267, suggesting that there could be a trend towards consolidation ahead.
The digital asset moves around the midpoint and upper line of the Bollinger Bands, indicating mild volatility.
Source: TradingView
MACD confirms this emerging strength because the blue MACD line moves above the orange signal line and enters positive territory. Greenish histogram bars indicate building bull strength following the recent decline in the market.
Despite the lingering bearish sentiment, this is an indication that the current phase is entering a new phase of bullish sentiment as the asset touches the upper Bollinger band.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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