#ENS broke through the $26 mark for the second time this month - the last time it broke through this level was in January 2022.

Despite the surge in price, ENS is still down 69% from its all-time high of $85.69 in November 2021.

As the price rose, the total market capitalization of $ENS soared to $840 million, becoming the 82nd largest cryptocurrency. Daily trading volume also increased by 39% and is currently hovering at $227 million.

According to data, ENS's total open interest increased by 27% in the past day, from $60.32 million to $76.45 million. Sudden surges in open interest usually lead to increased liquidations, which in turn lead to increased price volatility.

Data from the market intelligence platform shows that the total funding rate aggregated by ENS has dropped from 0.009% to 0.006% in the past 24 hours. The chart shows that the increase in open interest mainly comes from a surge in the number of short positions - traders betting on a fall in the price of ENS.

According to the data, the ENS relative strength index (RSI) is currently hovering at 61, indicating that the asset is slightly overbought and may be manipulated by large whales.

For ENS to remain in bullish territory, its RSI needs to drop below 50.

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