Convergence

April

Ethena

Divergence

The post <a href="https://coinpedia.org/price-analysis/ethena-price-on-a-run-will-ena-price-retest-1-this-week/">Ethena Price On A Run! Will ENA Price Retest $1 This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The <a href="https://coinpedia.org/news/ethena-usde-shakes-up-stablecoin-market-with-2-billion-surge-fate-of-usdt-usdc-in-danger/" target="_blank" rel="noreferrer noopener">Ethena</a> token has displayed a significant bullish price action over the past week after trading under a bearish sentiment for a brief period, indicating an increase in the buying-over-selling pressure for the altcoin in the crypto market. 
Furthermore, despite recording a correction of 41.27% in its valuation after recording an ATH, the <a href="https://markets.coinpedia.org/ethena/" target="_blank" rel="noreferrer noopener">ENA price</a> has added approximately 22% since its inception, highlighting a high possibility of bullish price action during the coming time. 
<h2 class="wp-block-heading" id="h-ethena-price-displays-a-bullish-move">Ethena Price Displays A Bullish Move:</h2> 
Launched on 02nd April with a price tag of $0.60, the ENA token instantly gained significant attention from the crypto market, resulting in the token recording a jump of 153.83% in valuation and achieving an all-time high (ATH) of $1.523 on 11th April. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="542" src="https://image.coinpedia.org/wp-content/uploads/2024/04/30153932/pasted-image-0-1-1024x542.png" alt="Ethena" class="wp-image-296079" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/30153932/pasted-image-0-1-1024x542.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/30153932/pasted-image-0-1-300x159.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/30153932/pasted-image-0-1-768x407.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/30153932/pasted-image-0-1-150x79.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/04/30153932/pasted-image-0-1.png 1437w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 TradingView: ENA/USDT
 </figcaption>
</figure> 
Since then, the price has been constantly trading under a negative influence. Positively, the Ethena token has displayed a bullish move by jumping 13.82% within the past day, highlighting a high potential for a positive price action during this week. 
Moreover, the Simple Moving Average (SMA) supports the price chart, indicating a bullish outlook for the altcoin during the upcoming time. 
The Moving Average Convergence Divergence (MACD) displays a constant green histogram in the chart, indicating increased bullish sentiment for the altcoin in the crypto industry. Furthermore, the averages show a continuous rise, suggesting the price will continue gaining value. 
<h2 class="wp-block-heading" id="h-will-ena-price-rise">Will ENA Price Rise?</h2> 
If the market holds the price above the support level of $0.875, the bulls will prepare to test its resistance level of $1.070 by the coming weekend. Maintaining the price at that level will set the stage for ENA price to attempt to test its upper level of $1.280 in the upcoming time. 
Negatively, if the bears overpowered the bulls, the price would lose momentum and fall to test its support level of $0.875. Moreover, if the bears continue to dominate the market, it will plunge and fall to test its low of $0.70 this month. 
Also Check Out : <a href="https://coinpedia.org/price-analysis/altcoin-season-ahead-as-ethereum-based-tokens-take-charge/">Altcoin Season Ahead? As Ethereum-Based Tokens Take Charge?</a>

Ethena Price On A Run! Will ENA Price Retest $1 This Week?

Table of Contents

CoinPedia News

Other articles published on Apr 30, 2024

Indians are including cryptocurrencies in their retirement plans, survey reveals

Solana’s Market Struggles Amid Global Crypto Slowdown

Bitcoin, Ethereum, Dogecoin Closing April With Heavy Losses, Slide Below $60K Causes Over $380M I...

SSV.Network Partners with Ether.Fi for Revolutionary Staking Advancement

PLAY Wallet updated

CoinGecko: Ethereum overtakes Solana by DEX trading volume

Join our free newsletter for daily crypto updates!