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ENS eyes rebound from demand zone – But bearish signals persist

ENS eyes rebound from demand zone – But bearish signals persist

CryptoNewsNetCryptoNewsNet2026/06/20 13:33
By:CryptoNewsNet
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ENS eyes rebound from demand zone – But bearish signals persist

ENS eyes rebound from demand zone – But bearish signals persist image 0  ambcrypto.com 7 m
ENS eyes rebound from demand zone – But bearish signals persist image 1

Ethereum Name Service [$ENS] has trended lower over the past 24 hours as bearish sentiment and sustained selling pressure dragged the asset down across the market.

The token, which shed 12% within the period, now points to the possibility of a further decline ahead — though its structural setup still leaves room for a major rebound in the near term.

$ENS slides into key demand zone

Market analysis shows that $ENS’ decline has pushed the asset into a key demand zone, the final cushion separating it from its recent low of $4.28, which it set on the 6th of June.

The demand zone has historically drawn positive reactions at this level, hinting at a possible relief pump. Currently, the 4-hour chart points to a green candle forming at the zone, a sign that bullish demand is building.

ENS eyes rebound from demand zone – But bearish signals persist image 2 Source: TradingView

At the time of analysis, the demand zone holds clear upside targets. If buyers respect it, $ENS could rally toward the nearest target at $5.06 and the upper target at $5.82.

If sellers keep control, $ENS risks swinging lower and extending its slide toward a fresh low, as it did earlier this month.

Indicators point to further $ENS pressure

The Bollinger Bands, which gauge whether an asset is trading at overextended highs or lows relative to its recent range, show $ENS reaching the mid-band, a level that has since flipped into resistance.

A rejection off this mid-band typically forces the asset toward the lower band, in this case sitting at roughly $4.32 — slightly above the lower price target.

ENS eyes rebound from demand zone – But bearish signals persist image 3 Source: TradingView

The Moving Average Ribbon, which combines the 20, 50, 100 and 200 SMAs, shows a crossover that reinforces the bearish move. At the time of writing, the SMA 50 had just crossed below the SMA 100, a classic bearish signal.

The SMA 200 also remains elevated well above the other averages while the SMA 50 sits at the lowest level, a configuration that confirms the bearish setup.

Together, even with the demand zone in play, $ENS could drop further toward either the lower Bollinger Band or its previous low before staging a rebound.

$ENS Spot netflow signals accumulation

CoinGlass’ Spot netflow data for $ENS shows investors buying far more of the asset than they have sold across the market.

The netflow registered roughly $2.3 million more in buying than selling, the widest accumulation gap recorded for the asset to date.

The reading tracks how much $ENS investors have moved off cryptocurrency exchanges and into private wallets, a pattern that often signals bullish, longer-term conviction and supports a higher trend.

If the netflow keeps favouring buyers, $ENS stands a strong chance of holding its ground and resisting a deeper decline.

Final Summary

  • After a 12% drop, $ENS has fallen to a price level where buyers have stepped in before, raising hopes of a short-term bounce toward $5.06 to $5.82.
  • Momentum still favours sellers, so $ENS could slip to a fresh low near $4.28 before any meaningful recovery takes hold.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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