Ethereum Name Service (ENS) & Ethereum Classic (ETC) Record Huge Gains—Which One Will Reach $50 First?
The post Ethereum Name Service (ENS) & Ethereum Classic (ETC) Record Huge Gains—Which One Will Reach $50 First? appeared first on Coinpedia Fintech News
Although the crypto markets appear to have entered the bull run phase, the bears tend to extract some profit at frequent intervals. A similar pullback occurred in the past couple of days, which offered the bulls a relaxation period and the recent rebound suggests the bulls are getting back in action. While the Ethereum price has raised above $3600, the tokens within the ecosystem, like Ethereum Name Service (ENS) & Ethereum Classic (ETC), have gained remarkable gains, which suggests the ETH price may also trigger a notable run.
Ethereum Name Service (ENS) Price AnalysisENS price printed a huge bullish candle during the past trading day of over 55% elevating the levels from $22.03 to as high as $34.26. Besides, the token surged magnificently in the early trading hours and smashed yearly highs at around $37.29 that attracted huge bearish attention. The platform has attracted huge buying volume, which has kept the bullish momentum alive and also revived the possibility of another 15% jump before the monthly close.
As seen in the above chart, the ENS price was trading within a rising parallel channel, and the recent rebound helped the token gain it’s levels within the range. After the 50% rise, the price is falling some pullback, which is expected to be short-lived as the bulls continue to be vigilant as they have held a strong grip over the rally. Besides, the RSI has entered the overbought zone, and if it sustains for a while, the price may get a strong boost. Therefore, the ENS price is believed to maintain an ascending consolidation and reach the resistance of the channel above $40.
Ethereum Classic (ETC) Price AnalysisEthereum Classic has maintained a notable ascending trend in the short term within a rising channel. Meanwhile, the bears are successfully dragging the levels lower after rising above average levels. Therefore, sustaining above $30 may offer fresh boosts that could elevate the levels above $36. However, the token may witness a small pullback before rising above the range.
The stochastic RSI is about to undergo a bearish crossover after reaching the upper threshold, suggesting the token may undergo a price drain. Therefore, after slightly plunging to $30 or some levels below, it could trigger a notable rise in the price that could elevate the levels to $40. Besides, the volume has surged to some extent, signifying the rising volatility of the token. Therefore, the ETC price is believed to maintain a healthy ascending trend until the end of the month, which may help it reach $50 in the first few days of December.