- Bullish Ethereum Name Service (ENS) price prediction ranges from $10.55 to 27.
- Analysis suggests that the ENS price might reach above $50 soon.
- The ENS bearish market price prediction for 2022 is $10.66.
Aside from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and get experience with new cryptocurrencies, Ethereum Name Service (ENS) is one of them.
The Ethereum Name Service, or ENS, is a distributed platform based on the Ethereum blockchain that gives an easy solution to long and confusing crypto addresses: one URL that symbolizes a crypto address, exactly like a website name or email address. To make crypto addresses easy to read and publish, ENS uses the same concept as the Domain Name Service (DNS), which maps simple website names to their IP addresses.
If you are interested in the future of ENS and want to know its predicted value for 2022, 2023, 2024, 2025, and 2030, keep reading!
What is Ethereum Name Service (ENS)?
The Ethereum Name Service (ENS) is a distributed, open, and extendable blockchain-based naming system. ENS translates human-readable Ethereum addresses like john.eth into machine-readable alphanumeric codes like Metamask wallets. It is also feasible to convert metadata and machine-readable addresses into human-readable Ethereum addresses.
The purpose of Ethereum Name Service is to make the Ethereum-based web easier for humans to access and comprehend, in the same way, that the Internet’s Domain Name Service makes the internet more accessible. ENS, like DNS, employs a system of dot-separated hierarchical names known as domains, with domain owners having complete control over their subdomains.
Due to being the first service to move the Domain Name Service to the decentralized Web3, Ethereum Name Service provides a unique value proposition.
ENS’s internal structure is based on two smart contracts. The first is an ENS registry that lists all domains registered on ENS and keeps track of the data listed below: the website’s owner, domain name resolver, and the duration of all domain records’ caching.
The resolver is the second smart contract. Its goal is to convert machine-readable addresses into domain names and vice versa and then to match each domain with the associated user, website, or address.
ENS is built on Ethereum, using a proof-of-work consensus process, requiring miners to mine fresh Ether. The Ethereum blockchain is secured and validated via a network of decentralized nodes. Because of Ethereum’s decentralized design and over 10,000 nodes safeguarding the network, ENS cannot be hacked. Ethereum Name Service has also collaborated with wallets such as Coinbase Wallet.
Ethereum Name Service (ENS) Current Market Status
At the time of writing, Ethereum Name Service sits at 107th place in market capitalization, according to CoinMarketCap. ENS has 20,244,862ENS in circulation, and its total market supply is 100,000,000ENS. ENS has a 24-hour trading volume of $49,687,795.43, with 16.19% decrease. In the past 24 hours, the ENS price has decreased by 3.45%.
Current popular exchanges to trade Ethereum Name Service (ENS) are Binance, BTCEX, OKX, Deepcoin, and XT.COM.
Ethereum Name Service (ENS) Price Analysis 2022
Will Ethereum Name Service (ENS)’s most recent improvements, additions, and modifications help the ENS price rise? First, let’s focus on the charts in this article’s ENS price forecast.
Ethereum Name Service (ENS) Price Analysis – Keltner Channel
When volatility bands are positioned on either side of an asset’s price, it is possible to determine a trend with the help of the Keltner Channel. Ethereum Name Service (ENS) price can be predicted using the Keltner Channel indications for ENS/USDT. The price is in the second half of the channel, meaning people are selling ENS rather than buying. But the candlesticks are slowly moving upward to touch the end of the first half, indicating that the price has a few reversals. For a better risk-free scenario, we should wait for a downturn or a better entry point to improve the reward-to-risk ratio.
Ethereum Name Service (ENS) Price Analysis – Relative Strength Index
During uptrends, the RSI tends to remain more stable than during downtrends. It makes sense, considering that the RSI tracks gains and losses. During an uptrend, there are more significant gains, maintaining a higher RSI.
In contrast, the RSI tends to linger at lower levels. The value of the 1-Day chart is 50.04. The RSI tends to remain above 30 and should frequently reach 70 during an uptrend.
During a downtrend, the RSI rarely exceeds 70 and regularly reaches 30 or falls below this barrier. These rules can help determine the strength of a trend and identify possible trend reversals.
Ethereum Name Service (ENS) Price Analysis – Moving Average
Above is a 1-Day Ethereum Name Service (ENS) 200-day and 50-day Moving Averages (MAs) chart. Looking at the chart above, ENS has run sideways since 27 July 2022. The ENS 50-day MA is above the 200-day MA (long-term), indicating that the market is entirely bullish.
However, the distance between the two moving averages is narrow. Another possibility is that the price can break down the 200 MA and dump lower. For an excellent risk-to-reward ratio, it is better to wait for a few reversal patterns for crypto investors.
Ethereum Name Service (ENS) Price Prediction 2022
Looking at the daily chart of ENS/USDT, the ENS price was swinging from $18.31 to $11.22 within the past three months after going to its lowest of the month at $12.01. ENS is now inside a symmetrical triangle, and if it breaks out of the triangle and rises higher, it is possible that ENS can reach $28.
Meanwhile, our long-term ENS price prediction for 2022 is bullish if it cannot break the support level. We can expect ENS to reach $28 this year.
Ethereum Name Service (ENS) Price – Resistance and Support Levels
The chart above shows that the price of ENS has decreased in the past few months. It might be breaking its $16.57 resistance 1 level and increasing it to $28.
If ENS cannot break the $16.57 resistance 1 level, the bears may seize control and dethrone ENS to a downtrend. In simple terms, the price of ENS might fall to almost $10.66, indicating a negative signal from the previous support level.
Ethereum Name Service (ENS) Price Prediction 2023
Ethereum Name Service (ENS) could end the year 2022 with a relative strength index (RSI) value of more than 70. This shows that the trend is solid and bullish and will trade above $27 by 2022. Hence, we could expect the price of ENS to surge to at least $36.84 by the end of 2023.
Ethereum Name Service (ENS) Price Prediction 2024
The Bitcoin supply will be halved in 2024, and thus we should anticipate a favorable market trend due to user sentiment and investors’ desire to amass more of the coin. Since the movement of Bitcoin affects the way other cryptocurrencies trade, we could expect ENS to be worth at least $54.85 by the end of 2024.
Ethereum Name Service (ENS) Price Prediction 2025
We should expect the price of ENS to trade above its price in 2024 because most cryptocurrencies may be able to break through psychological barriers after Bitcoin’s price dropped in half last year. So, by the end of 2025, ENS could be worth around $67.68.
Ethereum Name Service (ENS) Price Prediction 2026
Since the maximum amount of ENS will be reached by 2026, the bearish market that follows a solid bullish run affects its previous price as more institutional investors join its platform. If this happens, the price of ENS could go against the usual trend and be worth $84.01 by the end of 2026.
Ethereum Name Service (ENS) Price Prediction 2027
Due to Bitcoin halving, investors expect a bullish run in 2028. So, the price of ENS could build on its recent gains and even break through more psychological barriers if investors feel good. So, by the end of 2027, ENS could be worth $104.77, and ENS is likely to break its ATH value.
Ethereum Name Service (ENS) Price Prediction 2028
Bitcoin will be halved in 2028. So, a bullish run could happen before the market settles down in 2027. The price of Ethereum Name Service (ENS) could reach $115.61.
Ethereum Name Service (ENS) Price Prediction 2029
By 2029, the prices of most cryptocurrencies could have been stable for more than a decade, and this is because they used their lessons to ensure their investors still believed in the project. Because of this effect and the price spike that happens a year after Bitcoin halves, ENS could reach $131.18 by the end of 2029.
Ethereum Name Service (ENS) Price Prediction 2030
The cryptocurrency market was stable because early investors held on to their assets so they wouldn’t miss out on future price gains. By the end of 2030, the price of Ethereum Name Service (ENS) could be around $160.33, despite the bearish market that followed a market boom in the early years.
Conclusion
ENS might reach $27 in 2022 and $160.33 by 2030 if investors decide that ENS is a good investment, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
FAQ
The Ethereum Name Service (ENS) is a distributed, open, and extendable blockchain-based naming system. ENS translates human-readable Ethereum addresses like john.eth into machine-readable alphanumeric codes like Metamask wallets. It is also feasible to convert metadata and machine-readable addresses into human-readable Ethereum addresses.
The purpose of the Ethereum Name Service is to make the Ethereum-based web easier for humans to access and comprehend, in the same way, that the Internet’s Domain Name Service makes the internet more accessible. ENS, like DNS, employs a system of dot-separated hierarchical names known as domains, with domain owners having complete control over their subdomains.
ENS can be traded on many exchanges like other digital assets in the crypto world. Binance, OKX, BTCEX, Deepcoin, and XT.COM are currently the most popular cryptocurrency exchanges for trading ENS.
Since ENS provides investors with several opportunities to profit from their crypto holdings, it seems to be a good investment in 2022. Notably, ENS has a high possibility of surpassing its current ATH in 2027.
ENS is one of the few active crypto assets that continue to rise in value. As long as this bullish trend continues, ENS might break through $54.85 and reach as high as $100. Of course, if the current market favoring crypto continues, it will likely happen.
ENS is expected to continue its upward trend as one of the fastest-rising cryptocurrencies. We may also conclude that ENS is an excellent cryptocurrency to invest in this year, given its recent partnerships and collaborations that have improved its adoption.
The lowest ENS price is $7.40, attained on January 14, 2022, according to CoinMarketCap.
ENS was launched in 2021.
Nick Johnson co-founded ENS.
The maximum supply of ENS is 100,000,000.
ENS can be stored in a cold wallet, hot wallet, or exchange wallet.
ENS price is expected to reach $36.84 by 2023.
ENS price is expected to reach $54.85 by 2024.
ENS price is expected to reach $67.68 by 2025.
ENS price is expected to reach $84.01 by 2026.
ENS price is expected to reach $104.77 by 2027.
ENS price is expected to reach $115.61 by 2028.
ENS price is expected to reach $131.18 by 2029.
ENS price is expected to reach $160.33 by 2030.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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