11.26:ENS has been in consolidation for a long time, ready to take off

After a sharp drop in early August this year, ENS has been hovering around 18 dollars for three and a half months. The current price has just broken out of the resistance zone at 23 dollars. There is a willingness to actively push higher. In fact, this coin belongs to the category of value coins, supported by project applications, with monthly protocol revenues in the millions of dollars. It is one of the few projects that can achieve continuous profitability.

The current circulating market value of ENS is 800 million dollars (corresponding to a price of 23.50). Moreover, Ethereum's founder Vitalik Buterin has publicly supported ENS multiple times, stating that it is the most successful project in the Ethereum ecosystem. As the Ethereum ETF drives the price higher, ENS will also benefit and see its price advance. The opinion is that if the price is below 22.0 dollars, it can gradually accumulate for long-term holding, with the first phase targeting 27, the second phase targeting 32, and looking at 50 dollars after exceeding 35 dollars.

ENS is essentially a decentralized domain name system based on Ethereum, which converts complex Ethereum addresses into easy-to-remember names, similar to the internet's DNS. The Ethereum Name Service (ENS) is a decentralized domain name system built on the Ethereum blockchain, whose core function is to convert complex wallet addresses into easy-to-remember and usable ‘.eth’ domain names, greatly enhancing the user-friendliness and efficiency of the blockchain user interface. This technology not only simplifies the transaction and communication process between users but also contributes to the usability and adoption of the Ethereum ecosystem.

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