Ethereum Name Service (ENS) Price Prediction 2024-2030: Will ENS Price Hit $50 Soon?

• Bullish Ethereum Name Service Price prediction ranges from $42 to $50.
• Analysis suggests that the ENS price might reach above $40.
• The Ethereum Name Service Bearish market price prediction for 2024 is $15.

You may have heard about the Internet’s Domain Name Service (DNS). DNS mainly translates human readable domain names (like Google.com) into machine readable IP addresses (like 192.0.2.1) which then are used to communicate with each other on the internet.  Ethereum Names Service (ENS) is not much different from a DNS. The goal of the Ethereum Name Service is to convert Ethereum based web addresses like Andrew.eth to alphanumeric codes like your wallet address.

Ethereum Name Service (ENS) Price Prediction 2024-2050 Overview

What is Ethereum Name Service (ENS)?

Ethereum Name Service as its name goes is a distributed, open, and extensible naming system based on the Ethereum blockchain. As mentioned above the main purpose of ENS is to convert human readable Ethereum addresses to machine readable code. ENS isn’t a traditional company; it’s an open-source project that describes itself as “an open public utility owned by the community.” Its goal is to become as essential to Web3 as DNS is to the internet. Built on blockchain technology, ENS is designed to be more secure and censorship-resistant, with no single point of failure.

Ethereum Name Service (ENS) Price Analysis 2024

Will the ENS most recent improvements, additions, and modifications help its price rise? Read more to find out about ENS’s 2024 price analysis.

Ethereum Name Service (ENS) Price Analysis – Bollinger Bands

The Bollinger bands are primarily three bands– the upper band, middle band and lower band. These bands expand and contract based on the market dynamics. The middle band is the average, while the upper band and lower band are the extreme ends that the price rises or falls to. Based on how the traders interact, the bands expand and contract. When the band expands, there could be a rise or fall of price by a huge margin. However, on the contrary when the band shrinks, there is not going to be much fluctuation in prices.

ENS has had a roller coaster of a ride since the beginning of 2024. The price of ENS fluctuated from as low as $10 to as high as $35 during the first 8 months of 2024. After a lot of jagged movement ENS started to consolidate from September until late November. However, currently, there is a lot of turbulence as the Bollinger bands have expanded and ENS has risen exponentially. Nonetheless, since ENS has touched the upper Bollinger band, there could be a market correction oncoming for ENS. 

Ethereum Name Service (ENS) Price Analysis – Relative Strength Index

The Relative Strength Index (RSI) indicator used to measure whether the price of a cryptocurrency is over or undervalued. For this purpose, it has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought, which means that due to more buying the demand has increased as such the price has also increased. On the other hand, when it is oversold (<30), many are selling, as such, its price is undervalued.

The RSI focuses on the gain and losses of the token. Indicating a value of 79 the RSI is in an overbought region, which means the token has made more gains in the recent past. It has made so much gain that it is overvalued, hence, the market could correct the prices very soon. 

When the RSI is used to its limits, it also can help decide when a trend is over. For instance, the blue broken line on the chart indicates ENS on an uptrend, however, the RSI is on a downtrend. This shows that although ENS was gaining value, the uptrend was coming to an end.

Ethereum Name Service (ENS) Price Analysis – Moving Average Convergence and Divergence (MACD)

The Moving Average Convergence and Divergence indicators use two exponential moving averages (EMA)  to find how the cryptocurrency is doing. Usually, the longer EMA is the 26-Day EMA and the shorter is the 12-Day EMA. The MACD is found by reducing the 12-day EMA from the 26-day EMA. If the MACD is positive that means the crypto is performing but if it’s negative, then it is losing value. 

Currently, the MACD reads a positive value, which reflects that ENS is performing well in the short term. The circles on the chart highlight two instances where the MACD crossed the SMA from above and below. Traders usually use these crossovers as signals to set long and short positions. In particular when the MACD is deep in the positive region traders will look to sell when the MACD crosses the SMA from above. 

Ethereum Name Service (ENS) Price Prediction 2024

The above chart shows that ENS has been consolidating on different ranges as shown in the chart. Currently, ENS has risen to a new price range, hence, if its historic behavior is repeated, there could be yet another consolidation waiting for ENS.

ENS is at a very critical juncture as it is very difficult to adjudicate which way it will go. According to the historic behavior, there could be a consolidation in this new price range. However, the indicators show that ENS is overbought, hence , the market could correct the price. So,it is essential to identify a correction from a downtrend. If it is a market correction the price of ENS will fall to $30 at worst. If it falls to support 1 which is at $25, then, it cannot be considered a correction but a downfall. In the event, a down fall continues for ENS even after reaching support 1, then it may reach support 2 at $15 for help. On the positive side, if ENS gains value it could rise above $40. 

Ethereum Name Service (ENS) Price Prediction – Resistance and Support Levels

ENS has risen above its main resistance at $30. If the buyers keep the pressure in the market, there is every chance that ENS would reach above $41. However, there might be a consolidation in this new price range before ENS switches to a new price range. 

Ethereum Name Service (ENS) Price Prediction 2025

ENS may experience the after-effects of the Bitcoin halving and there is a high chance that it could trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, Ethereum Name Service will continue to rise in 2025 forming new resistance levels. It is expected that Ethereum Name Service (ENS) will trade beyond the $90 level.

Ethereum Name Service (ENS) Price Prediction 2026

As per the market cycle, it is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, the Ethereum Name Service could tumble into its support regions. During this period of price correction, ENS could lose momentum and be way below its 2025 price. As such, it could be trading at $80 by 2026. 

Ethereum Name Service (ENS) Price Prediction 2027

During this period, the market would be healing from the deep lacerations of the bear. With traders being tentative, there might not be much movement in the market, as it consolidates. As such, we could expect Ethereum Name Service (ENS)  to trade at around $95 by the end of 2027. 

Ethereum Name Service (ENS) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, Ethereum Name Service may reciprocate its past behavior during the BTC halving. Hence, Ethereum Name Service (ENS)  would be trading at $145 after experiencing a considerable surge by the end of 2028. 

Ethereum Name Service (ENS) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, Ethereum Name Service (ENS)  could be trading at $220 by the end of 2029.

Ethereum Name Service (ENS) Price Prediction 2030

After witnessing a bullish run in the market, Ethereum Name Service and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, Ethereum Name Service (ENS)  could be trading at $180.

Ethereum Name Service (ENS) Price Prediction 2040

The long-term forecast for Ethereum Name Service Indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments as HODLERS may expect to sell some of their Coins at the ATH point. 

If they start selling then Ethereum Name Service Could fall in value. It is expected that the average price of Ethereum Name Service (ENS)  could reach $500 by 2040.

Ethereum Name Service (ENS) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such Ethereum Name Service (ENS) could reach $800.

Conclusion

If Ethereum Name Service with its value proposition of being the first service that transfers the Domain Name Service to the decentralized Web3, captures the hearts of the crypto community ENS could reach above $40 very soon. 

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