The post Ethereum Name Service (ENS) Price Eyes $40 After Bullish Breakout: Can the Momentum Hold? appeared first on Coinpedia Fintech News
Ethereum Name Service (ENS) has recently witnessed a sharp upward move, gaining strong traction within the broader crypto market. The price structure has evolved from a long consolidation phase into a momentum-driven rally, suggesting a shift in sentiment and positioning. With bullish continuation patterns triggering follow-through buying, the ENS price appears to be in the early stages of a broader trend expansion. This renewed interest reflects deeper ecosystem developments and fundamental catalysts supporting price growth.
Coinbase Integration Accelerates Institutional Adoption
One of the most significant catalysts for the ENS rally is Coinbase’s strategic shift to adopt ENS as the foundation for its Web3 username service. By migrating “.cb.id” usernames to ENS, Coinbase has effectively validated the protocol as the standard for blockchain naming systems. This move not only improves visibility for ENS but also encourages broader usage across both retail and institutional audiences. Increased utility often leads to stronger on-chain metrics, supporting upward price momentum.
Besides, there’s been a notable uptick in the number of new domain registrations and renewals on the ENS protocol. As more users map their Ethereum addresses to human-readable names, real-world usage continues to grow. This expansion in activity reflects real demand rather than speculative inflows, signalling fundamental strength. Growth in user participation often correlates with increased governance engagement, reinforcing token value.
ENS Price Analysis: How High Can it Go?
ENS has broken above a multi-month resistance zone, confirming a bullish reversal structure. The move has attracted significant volume, highlighting conviction behind the breakout. Traders are now targeting higher levels, with clean price action opening room toward $35 and potentially $42 in the coming weeks. This type of structure tends to sustain itself, especially when backed by both narrative and adoption-driven flows.
The ENS price has entered the bullish range and is about to enter the crucial resistance level between $27.19 and $29.25. The weekly bollinger bands have displayed a divergence, while the RSI has maintained a steep ascending trend. Hence, the price is expected to maintain a healthy upswing to rise above the average levels of the rising parallel channel. This could initiate a fresh ascending trend that may push the price towards the resistance close to $80.
Is ENS Gearing Up for a Long-Term Rally?
The Ethereum Name Service token is rising on the back of real adoption, ecosystem alignment, and technical strength. With a growing number of users integrating ENS domains and key players like Coinbase backing the protocol, the momentum appears fundamentally supported. As long as Ethereum continues to scale and identity remains a core layer of blockchain utility, ENS may have more room to climb.
