The cryptocurrency market cap has increased to $3.31 trillion with a 2.59% surge in the past 24 hours. However, the trading volume has decreased by 8.36%. Bitcoin has recovered and is now above $97K, while Ethereum has jumped to $3.6K. Ethereum Name Service (ENS) has seen a 24-hour jump of over 46% and is the top gainer. An ENS whale has entered the market and deposited 50K ENS, worth $1.66 million, to secure a $968K profit. The rally of ENS gained momentum after the Coinbase CEO praised it as a key decentralized identity project. Technical analysis indicates a bullish sentiment with the potential for a rally if upward momentum continues. ENS's daily trading volume has increased by over 315%. The four-hour price chart suggests that breaking the $37 resistance level could ignite a rally to $42, while a downside correction could test the $32 support level. The short-term moving average is above the long-term moving average, and the daily RSI is in the overbought territory at 83.98.



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