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ENA Price Technical Analysis For $1 Possibility? Currently, ENA is trading at $0.5064, with some analysts predicting it could rise to $1.00. The recent upward trend has enabled ENA to break through significant barriers. Crossing the upper boundary of the Bollinger Bands is a strong buy signal. If ENA maintains this momentum and trading volume stays high, it could reach higher resistance levels around $0.6562 soon. This breakthrough could trigger a Change of Character (ChoCh) level at $0.6562. Ethena's market position appears robust at $1.44 billion, with a fully diluted market cap of nearly $7.60 billion and annual revenue of about $150 million. If Wintermute's proposal is approved, the revenue-sharing model could attract more investors, potentially driving up the price. Additionally, the breakout from a long-term falling wedge pattern supports the bullish outlook. Since emerging from this pattern in mid-September, ENA's price has been rising along an upward trendline, characterized by higher lows and higher highs, both bullish indicators. If current market conditions continue, ENA could challenge the psychological $1.00 resistance level in the coming weeks.
CRYPTO:ENAUSDLong
by Sam_TCR
With The Bullish Pattern In Play, Can Ethena Crypto Propel To $1 The recent break of an intriguing bullish pattern's neckline could potentially trigger a significant surge in Ethena's price. Market analysts have highlighted this development in their Ethena price predictions, confirming another breakout and expecting a bullish rally of up to 150%. They are targeting a minimum price of $1, with the potential for even higher gains if momentum remains strong. Recent chart analysis has added to the optimism, indicating the formation of a bullish "inverted head-and-shoulders" pattern. Ethena's recent performance has pushed it above the 50-day and 20-day moving averages. Currently priced at $0.4148, ENA is struggling to sustain above the pattern's neckline. According to Ethena price predictions, if ENA can maintain its position above the neckline. It could boost investor confidence and pave the way for a push towards retesting its yearly high of around $1.52. The broader cryptocurrency market is also showing signs of recovery, thanks to Bitcoin's recent rise. This positive sentiment may provide additional support for Ethena's upward momentum. As investors seek opportunities in the rebounding market, ENA's ability to stay above this key resistance level has made it a focal point for traders and enthusiasts.
CRYPTO:ENAUSDLong
by Sam_TCR
Ethena (ENA) Price Technical Analysis On Daily Chart! The Ethena (ENA) price had an all-time high at $1.51 by April 11th, 2024, and then started plummeting by resonating with BTC, as ENA has a BTC correlation score of 0.83. The price structure developed a falling channel, and for the last three months, the price has traded inside of this pattern. Recently, in correlation to BTC, the price showed a bullish presence from July 5th onwards, and nearly 36% of the gains were from the support of $0.3523 and the lower border of the wedge. The price seems to be approaching the 50-day EMA band on the daily chart. Meanwhile, the other technical tools like MACD show a histogram surge at 0.0195, with a bullish cross below zero line, and RSI flashes at 48.05, which seems like a recovery on the way from oversold to overbought. At press time, it has traded at $0.4817, where its price seems headed towards the upper border of the wedge, where it could meet a hurdle at $0.6562. Once past this hurdle, further interruptions could lie around $0.8068 and $1.0098, respectively. However, slipping its recent gains could retract back towards the support of $0.3253 and lower the border of the wedge.
CRYPTO:ENAUSDLong
by Sam_TCR
1
Ethena (ENA)Ethena (ENA) Ethena Crypto suffered the most this week and dropped over 27.4% a week. The daily chart highlights that the crypto has indicated signs of weakness from the beginning of June Month and dropped to a record lows. The weakness in the broader markets added fuel to the bearish trend and the price suffered more. At the time of writing, the crypto was trading close to $0.37 losing over 27.4% a week and Over 61% a month. The crypto trades close to its ATL and might continue to suffer more until the weakness prevails in the broader market.
CRYPTO:ENAUSDShort
by Ritika_TCR
Ethena (ENA) crypto has experienced a surge The Ethena (ENA) cryptocurrency had exhibited a clear downward trend on the trading chart, it continued downward moment for the past nine days. ENA's price initially ascended from mid-May until early June 2024 but soon encountered a wave of profit-taking. Since, this sell-off resulted in a significant 38% drop from its peak price of $1.07, coinciding with the formation of a rising wedge pattern, which is a bearish pattern. Presently, the price has breached this pattern to the downside. A glance at the technical indicators paints a gloomy picture, as they mainly suggest a continuation of the current weakness in ENA's market price. On the daily chart, Ethena's (ENA) price has sunk beneath the 50-day Exponential Moving Average, closing below this crucial indicator. Likewise, the MACD has undergone a bearish crossover with its signal line, deviating into negative territory, accompanied by a growing histogram below. Furthermore, the RSI mirrors this bearish sentiment, falling below the 14-day SMA and the critical midpoint level of 50. This overall analysis indicates that a caution is warranted for ENA investors and traders (DYOR), as the technicals hint at potential further declines. At press time, the Ethena (ENA) crypto has experienced a surge of 3.54% in the last 24 hours, trading at $0.7213. Therefore, if the demand surges, then the Ethena asset (ENA) price could bounce back from the current level. The next target for the price could be to reach $0.80, and $1.00.
CRYPTO:ENAUSDLong
by Sam_TCR
MACD indicator also shows a bullishAn analyst, Jelle, Tweeted with the bullish sentiment on the X platform that In Ethena (ENA) a breakout has taken place out of a consolidation range on the daily chart. This could lead its price to run towards $1.50. In a recent optimistic tweet by an analyst, it was observed that on the daily chart for the ENA asset, there has been a significant surge from the support level, and it currently remains above both the 20-day and 50-day EMAs. Additionally, the MACD indicator also shows a bullish crossover, with a rising histogram at 0.0182 for ENA, and the RSI is at 57.59. These indicators suggest that Ethena's cryptocurrency is still gaining momentum and could potentially see further upward movement in the future. If a strong breakout occurs, the next target for the price of ENA could be at levels such as $1.50 and $2.00. On the other hand, if the price declines, in this scenario, if the price of Ethena's cryptocurrency fails to maintain its position above the $0.90 level, it may experience further decline.
CRYPTO:ENAUSDLong
by Sam_TCR
he ETF gets passed by SEC, these altcoin could show a massiveAt press time the PEPE has traded at $0.00001373 and has gained this week a surge of 26.08%, Doge at $0.16900 with a surge of 16.03% this week, and Ethena at $0.8401 with an 21.20% this week. The asset's has surpassed its supply zone and has taken support from dynamic supports of 20-day and 50-day EMA. Therefore, if the ETF gets passed by SEC, these altcoin could show a massive continuation in rally, for the targets higher. Where pepe could go for $0.00002000 round number target, dogecoin could reach $0.22000, and Ethena could touch $2.00 mark.
CRYPTO:ENAUSDLong
by Sam_TCR
the breakout rallies stronglySimilarly, based on the analyst tweet, the ENA asset daily chart shows that it has been surging from support and remains above the 20-day, and 50-day EMAs, portraying bullish strength in the short-term. Likewise, the MACD portrays a bullish cross, with a rising histogram in ENA at 0.0330, and the RSI flashed at 67.39. It portrayed that the Ethena crypto is not losing steam yet and could continue to climb higher in future sessions. Therefore, if the breakout rallies strongly, the next goal for the ENA price could be to reach the above levels, such as $1.00 and $1.51. On the contrary, if the price plunges and trades inside the pattern again, the bullish pattern made in ENA would lose its significance and would be invalid. Likewise, in this scenario, if the Ethereum crypto price fails to stay above the $0.80 level, it could also decline further.
CRYPTO:ENAUSDLong
by Sam_TCR
Ethena Still Struggling to break out of a Falling wedge?Ethena Still Struggling to break out of a Falling wedge? Ethena (ENA) crypto has seen a drastic reduction, shedding over half of its value since reaching a peak in early April. Ranking third in weekly losses, it has dropped over 12%. After an initial surge, ENA has entered a steep decline. Currently, ENA is undergoing a correction, with the daily chart displaying a falling wedge pattern. The cryptocurrency has lost nearly 50% and currently lacks indications of a rebound. For a positive trend reversal, it's crucial for buying pressure to build and push the price beyond the $0.918 resistance level. Conversely, if the price remains below the upper trendline of the wedge, further declines could be on the horizon.
CRYPTO:ENAUSDShort
by Ritika_TCR
Ethena Price Soars 8% on Integration With Bybit's USDe Collatera Ethena Labs has revealed a significant development in the application of USDe, a novel digital currency, through its incorporation with Bybit. The inclusion of support for USDe will allow users to trade perpetual contracts while potentially securing returns on the Ethena platform. Ethena Labs has unveiled a pivotal advancement with the adoption of USDe, a fresh digital currency, through its alliance with Bybit, a top-tier crypto exchange. This collaboration has launched vital features designed to enhance user experience and boost the adoption of USDe in crypto trading. Excited to share one of the most important developments for USDe adoption to dateUSDe will be integrated into @Bybit_Official:i) Collateral to trade perpetuals while potentially capturing yieldii) BTC and ETH spot pairs with zero trading feesiii) Within the Earn platform pic.twitter.com/zDDO2WdeNf— Ethena Labs (@ethena_labs) May 7, 2024 According to Ethena Labs, over 20 billion USD in collateral is currently employed in margining perpetual contracts without earning any yield. The integration of USDe offers users the unique opportunity to possibly reduce their funding expenses using their collateral. This is an unprecedented move in the realm of cryptocurrency and is set to revolutionize trading dynamics. Moreover, Ethena Labs highlighted in an earlier tweet that the popularity of stablecoins like USDT and USDC is largely due to their role as currency in major trading pairs on centralized exchanges. Currently there is >20bn of USD collateral being used to margin perpetuals which is capturing no yieldIntegrating USDe and allowing users to potentially offset their funding costs with their collateral is a first in crypto history, and will fundamentally reshape trading— Ethena Labs (@ethena_labs) May 7, 2024 Introducing USDe to these crucial spot pairs marks a significant move towards expanding its use beyond decentralized finance (DeFi) to the most active trading platforms. Ethena is set to offer the necessary infrastructure to enable users to easily earn yields in USD through a simple, one-click process on Bybit. Ethena Price Soars 8% Amid The News: Analysts Predict More Room For Growth! The incorporation of USDe on Bybit has been met with optimism, contributing to an over 8% intraday increase in its price. At the time of writing, ENA was exchanging hands at $0.935. Additionally, The daily chart indicates a breakout from a falling wedge pattern, suggesting the potential end of a downward trend. Analysts predict the token could climb nearly 40% to reach the $1.3 mark before experiencing another downturn. From a technical point of view, the RSI was at 54.4, while the SMA was hovering around the 50-point mean line. The occurrence of a bullish crossover between these lines on the chart supports the likelihood of continued upward movement for the cryptocurrency. Additionally, the broader market's recovery could further enhance the token's performance. Conclusion. Ethena Labs' integration of USDe with Bybit has sparked a positive market response, with an 8% price surge to $0.935. The move aims to improve user experience and increase USDe's use in trading. Currently, $20 billion in collateral isn't yielding returns, but USDe's integration could change that, offering cost savings. Technically, a falling wedge breakout suggests a trend reversal, with potential growth up to $1.3. The RSI and SMA indicators show a bullish crossover, hinting at further gains, especially as the broader market recovers, which could bolster ENA's upward trajectory.
CRYPTO:ENAUSDLong
by Ritika_TCR
Ethena labs token nears the end of the pullback phaseAs the Ethena labs token nears the end of the pullback phase, sideline traders are eagerly waiting for the next significant rise. Previous pricing pattern indicates an inability to maintain an upward trend above $1.50, resulting in a significant decrease in ENA price, eventually dropping below the $1 mark. Still, the stable foundation at the demand zone of $0.80 results in a gradual ascent that surpasses the resistance trendline above. Ranked 73rd on the list of top 100 coins, the altcoin has a market capitalization of $1.28 billion. At this moment, the ENA price is $0.9042, having increased by 11.28% during the day, resulting in a bullish engulfing candle on the 1D chart. Furthermore, the increasing confidence is accompanied by a bullish comeback, breaking through the resistance trendline and creating a bullish engulfing candle. Therefore, the current rebound presents an excellent chance to purchase the dip. Hence, if the price keeps climbing, it may reach $1.00 and exceeding that could lead to a retesting of $1.50 too. Nevertheless, if the price is unable to maintain $0.80, it may drop to even lower levels.
CRYPTO:ENAUSDLong
by Sam_TCR
Ethena Price Resurgence: Can 2-Day Affluence Assist It To Rise?Ethena price made an impressive recovery in the last couple of sessions and has surged by 25%. Earlier, the crypto noted a sharp fall from its record-high value to test the monthly low value. The Ethena price has experienced an impressive upswing of nearly 11% in the last 24 hours and over 25% in the last two sessions. The recent price performance demonstrates a remarkable market strength and sets it apart as a standout performer among the other cryptocurrencies. Moreover, the recent price surge has aided relief to the traders and Investors who were eagerly waiting for a recovery after a sharp fall was observed in the last week from the record highs. Let’s analyze whether this recovery will continue to cure the wounds of the investors or fade away. Ethena Crypto: What’s Driving The Growth? Several Factors have contributed to the price rise behind the Ethena crypto, amidst widespread volatility in the overall crypto market. The investor's sentiment toward Ethena has surged significantly in recent sessions indicating higher confidence in its long-term potential. This positivity is likely driven by the recent advancements in the ENA’s ecosystem, including strategic partnerships and innovations. Furthermore, the broader market dynamics, such as the growing adoption of blockchain technologies and increasing interest in cryptocurrencies, have led to a base formation of a favorable environment for ENA’s growth. Although there was a significant drop in Ethena's price last week, there was no indication of any selloff in the wallets with large amounts of cryptocurrency. As per the data collected from the app.santiment.net website, the recent sessions have shown that "whales", who are usually known as large wallet holders, have significantly increased their accumulation of cryptocurrency. Initially, these large wallets held 97.29% of the total supply, and this percentage has now increased to 97.35% in recent sessions. Technical Point Of View! From a technical point of view, it seems that the Ethena price has recently surpassed two important exponential moving averages: the 20-day and the 50-day. This could be a positive sign for the crypto, indicating that good days may be ahead. Additionally, at the time of writing, the RSI line (which measures momentum) is placed above the mean line, with a value of approximately 53.17. It suggests that the outlook for the asset is positive. Furthermore, a crossover of both the lines was observed on a 4-hour chart, which typically indicates a bullish scenario. Overall, these technical indicators point to a potentially positive trend for crypto. Conclusion. The price of Ethena has experienced an impressive upswing of nearly 11% in the last 24 hours and over 25% in the last two sessions. This recent price performance demonstrates a remarkable market strength and sets it apart as a standout performer among the other cryptocurrencies. The investor's sentiment toward Ethena has surged significantly in recent sessions indicating higher confidence in its long-term potential. Furthermore, large wallets have been observed to be accumulating after the recent price drop. the supply held by large wallets has increased from 97.29% to 97.35% in the last couple of sessions. From a technical point of view, the Ethena price has recently surpassed two important exponential moving averages: the 20 and the 50-day. This could be a positive sign for the crypto, indicating that good days may be ahead. Technical levels: Support levels: $0.85 and $0.679 Resistance levels: $1.20 and $1.52 Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
CRYPTO:ENAUSDLong
by Ritika_TCR
Ethena Crypto (ENA) Nears ATH: Is There Room to Grow Beyond?Ethena crypto hover near all time high value and looks poised to grow more by the month end. The technical indicators imply a bullish outlook above the key EMAs of 20 and 50 days. The Ethena crypto is scaling near its lifetime high value and has grown by nearly 166% in the last 10 Intraday sessions. The upsurge seems unaffected by the short term correction in the overall crypto market. However, the volume inflow has dropped in the last couple of sessions indicating a loss of momentum on the buying side. Also, extremely overbought conditions might prompt some profit taking in the ENA crypto. The 4 hour chart shows that the ENA crypto is headed towards north taking multiple support from the 20 day EMA suggesting a strong trend prevailing. Now, until the crypto is maintained above the key EMA, it may continue to rise higher. However, if the selling pressure dominates and the price looms below the 20 day and 50 day exponential moving average, it may validate some sort of weakness and the crypto may slide lower. Ethena Crypto Volume Analysis The volume analysis shows that ENA crypto received nearly 813 Million USD in volume in the past 24 hours which is 38.99% lower than the previous day. It has a live market capitalization of 2.03 Million USD and ranks 53rd in the overall crypto market. The volume to market cap ratio is 41.70% suggesting high volatility in the market. It has a circulating supply of 1.425 Billion ENA tokens which is 9.50% of the total supply. The total supply of Ethena is 15 Billion tokens. ENA Crypto Technical Outlook. The technical indicators imply a bullish outlook on a combined note. The price currently hovers above the key exponential moving average of 20 and 50 days suggesting a positive bias in the market. At the time of writing, the MACD line was situated at 0.074 points and that of the signal line was placed at 0.066 points. Both the lines were hovering above the zero line indicating a positive outlook in the crypto. Ethena Crypto Forecast 2024 On the most bullish observation, The Ethena price could rise to a high of $1.98 by the end of April 2024 suggesting an upside potential of nearly 41.2%. On the flip side, the most pessimistic prediction of our analysts is for the price to break below the recent support of dynamic support of 20 and 50 days after which the price may fall to $0.912. level. Conclusion. Ethena (ENA) crypto has surged 166% in the last 10 intraday sessions. The crypto hovers near its all-time highs, despite a broader market correction. However, declining trading volumes suggest waning buying momentum, and overbought conditions may trigger a profit-taking among the traders and investors. The 4-hour chart indicates a strong uptrend, supported by the 20-day EMA. Now, until ENA crypto stays above this level, the rise may persist. Conversely, falling below the 20-day and 50-day EMAs could signal a downturn. The technical indicators imply a positive outlook in the crypto. The positive view of our analysts hopes for the price to hit a new milestone of $2 by the month end. Technical levels: Support levels: $1.18 and $0.91 Resistance levels: $1.54 and $1.98 Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
CRYPTO:ENAUSDLong
by Ritika_TCR