Ethereum Name Service (ENS) Eyes $30 Resistance After Correction
Ethereum Name Service (ENS) experienced a significant 50% rally between July 12-16, 2025, reaching a peak before undergoing a 4.25% correction to $27.26. The pullback comes as the Relative Strength Index (RSI) breached the 70 mark, signaling overbought conditions. Despite the correction, bullish sentiment remains strong as traders target the next key resistance level at $30.16. Technical analysts highlight that the initial breakout was triggered by a decisive breach of a long-term descending trendline on July 16, which resulted in a 14% single-day surge. Market makers appear to be taking profits, but the overall trend suggests potential for further upside if the $30 resistance is convincingly broken. This development underscores ENS's growing prominence in the ethereum ecosystem and its potential for continued growth in the decentralized naming space.
ENS Faces Correction After 50% Rally as Technicals Signal Overbought Conditions
Ethereum Name Service (ENS) retreated 4.25% to $27.26 following a parabolic 50% surge between July 12-16. The pullback comes as the RSI breaches 70, flashing overbought signals while bulls eye the $30.16 resistance level.
Technical analysts attribute the initial breakout to a decisive breach of a long-term descending trendline on July 16, which triggered a 14% single-day surge. Market makers appear to be taking profits after the vertical ascent, though institutional interest remains robust in the domain naming sector.
Several trading desks maintain bullish targets NEAR $50, citing growing adoption of blockchain naming services. The correction presents a potential accumulation zone before the next leg upward, with on-chain data suggesting strong holder conviction during the dip.
GameSquare Expands Ethereum Treasury with $30M Purchase, Plans $250M Crypto Allocation
Nasdaq-listed GameSquare Holdings has significantly bolstered its Ethereum holdings with a $30 million purchase, acquiring 8,351.89 ETH at an average price of $3,592. The firm's crypto treasury now stands at $38 million, with 10,170.74 ETH under management as of July 21, 2025.
The board approved a dramatic expansion of its crypto investment capacity to $250 million, targeting Ethereum-based assets including ETH and NFTs. GameSquare will employ DeFi protocols to generate stablecoin yields, which will be reinvested into additional Ethereum exposure.
This strategic MOVE signals growing institutional confidence in Ethereum's long-term value proposition. The public announcement via Twitter sparked immediate market reaction, with ETH prices showing increased volatility following the disclosure.
The Ether Machine to Go Public on NASDAQ with $1.5B in Committed Capital
The Ether Machine, Inc. is set to enter public markets through a business combination with Dynamix Corporation, backed by $1.5 billion in fully committed capital. Trading under the ticker "ETHM" is expected to commence later this year.
A $645 million anchor investment in Ethereum (ETH) from co-founder Andrew Keys complements over $800 million in equity commitments from institutional heavyweights including Kraken, Pantera Capital, and Blockchain.com. Upon closing, ETHM will hold the largest ETH treasury among publicly listed companies.
The company's Core strategy focuses on ETH-denominated yield generation through staking, restaking, and risk-managed DeFi participation. Infrastructure services for institutions and developers—including validator management and block-building solutions—round out its offerings.
Ethereum veterans dominate the executive team, with Keys having co-founded the Enterprise Ethereum Alliance and CEO David Merin previously leading corporate development at Consensys.
Ethereum Retreats Under $3,700 Amid Market Pullback
Ether's rally shows signs of fatigue as the asset dips below $3,700, marking a 2.6% decline over 24 hours. The pullback from this week's high of $3,845 triggered liquidations across exchanges, though the token remains up 24% weekly and 53% monthly.
On-chain metrics reveal 90% of ETH addresses now hold profitable positions—a December 2024 peak—raising concerns about potential profit-taking. Daily active addresses dipped 2.6% to 526,300, yet maintain a 19% year-over-year increase, suggesting underlying network strength.
