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ENS / TetherUS

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ENSUSDT trade ideas

Ethereum Name ServiceEveryone's favorite Airdrop/DAO/NFT/Web3 functionality ENS has been catching a decent bid amid current market conditions. Up about 90% from the lows while the majority of the market is back to their lows, I'd say ENS is doing pretty well. From a point of value/ R:R, and also based on popularity, utility + sustainable future, ENS is in a great place currently at face value for a swing/mid-term hold (IMO). Recent News ENS 3 & 4 digit number names have become quite popular recently creating a buzz around the NFT ecosystem, most notably with BAYC/MAYC members buying the # that corresponds to their NFT #. Adding to the above, with the new otherside deeds going live, ALL ENS numbers from 1-10k & 10.1 - 20k are taken. Quite an influx of cashflow is no doubt having an effect on the price of the underlying token as I believe a portion of the funds go towards the DAO and the community handles it from there, making for a fundamentally bullish case IMO. I myself have been trying to snipe notable names that are expiring soon . Think of it like buying the copyright to your name - no one else can have the same name as you, and if they want to, then theyll have to pay you at your price. I believe ^this^ portion of the analysis is where the greatest value will come from; I'll leave you to connect the dots and figure out the rest. ENS also recently broke the threshold of 1,000,000 names. Moving along, looking at price as a whole, its evident to me that ENS has went thru a full market cycle and is in the last phase. Think of the famous Market Psychology Chart. Many airdrop tokens & brand new low-midcap IDO tokens tend to go through this Market Psychology M as I like to call it at a much faster rate than more sustainable tokens. I believe I have a few analysis on that topic that I'll link below. Conclusion Looking at all the factors mentioned and from a probabilistic view: Is it possible for ENS to make it back to $40 given there is a rise in popularity again? YES Is it possible due to the current market cycle phase for ENS to make it back to at least $40 without any other factors? MAYBE Can ENS fall back to lows where we see a fourth bottom and likely fall even further creating a much worse R:R ? UNLIKELY (NO) Based on current strength relative to the market, can ENS possibly continue even for a short while breaking the next resistance level? YES Welp, thats enough for me to look for an entry and potentially hop into the next trend. ENS names becoming hot again is definitely something I see happening; everyone already has their twitter usernames as their ENS, so what could really go wrong by buying a name you like, or even investing in the project that facilitates this?
by N0ST0PL0SS
2
ENS : Would this bring us to next hype level? 100 usdENS shows movement volume into small range trading The long-term goal of 100 USD + is a possible trend - total cap low - and the project has an interesting end goal. Short-term goal 30-44 USD ( never hope on fast changes, as markets can take in some bear markets a long time before recovery - even on that reason this looks interesting. Breakout chance 77% Why increase? - ENS shows volume movement and good technical signals - open-sea shows also more increasing on.ETH domains - where this project stands behind it. This can become in long term a hyped trend - but know the same time the risk of cryptomarkets. The above models are the expecting frames, which means there is no guarantee it will happen 100% It's important to study all-time you trades well before entering any market. It's always important to check the markets on all sides - markets can change all time. - this last one is very important.
Long
by Goldenbreakout