ENSUSD (ENS) Price Analysis: Ready to Rally 35% If It Breaks Above This Crucial Level

The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain

ENSUSD showed a massive jump in the past two weeks. It gained more than 35% in the past three days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $34.32 and is currently trading around $31.46.

The bullish invalidation can happen if the pair closes below $15. On the lower side, the near-term support is $28. Any break below the target is $24.70/$20/$15. Any violation below $15 targets $12.50/$10.

The immediate resistance stands at around $35. Any breach above confirms bullish continuation. A jump to $40/$46.55 is possible. A surge past $50 will take it to $60.

It is good to buy on dips around $28 with SL around $24 for a TP $35.

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