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?

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