ENS Price Soars 9% Post-CUBE Exchange Support, Will the Rally Last?

• Ethereum Name Service (ENS) price hits $18.46 after CUBE exchange support.
• Market cap and volume surged by 9% and 54%, showing growing interest in ENS.
• Technical indicators point to a potential bearish reversal in the ENS market, raising concerns for investors.

Ethereum Name Service (ENS) has been on an uptrend over the previous 24 hours, having found support around the intra-day low of $16. This rise, triggered by the CUBE exchange’s announcement of supporting SNS and ENS domains, has sent the price of ENS to a new high of $18.46. This collaboration with the CUBE exchange is anticipated to improve the accessibility and usage of ENS domains, hence increasing demand for Ethereum Name Service.

At press time, the ENS token was trading at $17.92, up 9.93% from its 24-hour low. If the bullish momentum breaks over the $18.46 resistance, the next level to watch out for is around the $19.00 mark. This might attract additional buyers and lead to more price gains for ENS in the short run. However, if the negative trend regains control, the price of ENS may decline and could revisit support levels near $17.…

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