Ethereum News Today: Ethereum Name Service (ENS) surges 14% as bullish momentum confirmed

Ethereum Name Service (ENS) has recently broken above a significant long-term descending trendline on its daily chart, a level that had acted as resistance since late 2022. This breakout has resulted in a 14% price gain, indicating a confirmed bullish momentum in the market. Technical indicators now suggest that the price could potentially rise to $48.85 or even $52.77, depending on the strength of the continuation.

The recent breakout aligns with growing interest in ENS, which has shown a clear pattern of rising volume and strong daily candles. These technical developments suggest that the breakout is supported by active market demand rather than low-volume price action. ENS tested the descending trendline near $23.16 on July 14, 2025. Buyers stepped in, and the token quickly climbed by over 5% that day. As momentum picked up, the price moved firmly above the resistance line, confirming a breakout on the daily timeframe.

The technical setup follows a common breakout pattern in cryptocurrency markets. Price consolidation under resistance, followed by a strong move higher on rising volume, typically signals a bullish reversal. Analysts have outlined potential targets of 110.25% from the breakout point, placing ENS in a possible range of $48.85 or higher.

The ENS price has risen to $26.25, recording a 37.57% improvement in the past 7 days. Meanwhile, the volume in 24-hour trading has soared by almost 198% to reach $369 million. Such increased trading volumes depict increased interest by traders and investors as the token picks up. There is also a rise in the market capitalization, which is at 18.61%, or an amount of $959.55 million. Its circulating supply is at 36.54 million tokens. Such a relatively low supply in comparison with the given 100 million is in favor of price stability in rallies. The rise has been in tandem with positive market information, a fact that augments the technical setup that is presently found.

According to the analyst's forecast, the potential upside for ENS is significant, with projections suggesting a possible move to $48.85 or even $52.77. This indicates a potential 110% move from the breakout level, highlighting the strong bullish momentum currently driving the market. The breakout is supported by a 198% spike in trading volume and an 18.61% rise in market cap, adding credibility to the rally and suggesting growing investor interest in ENS.