Ethereum

Convergence

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Ethena

<p>The post <a href="https://coinpedia.org/price-analysis/ethena-token-jumps-18-this-week-can-ena-price-reclaim-1/" rel="noopener noreferrer nofollow">Ethena Token Jumps 18% This Week! Can ENA Price Reclaim $1?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The crypto industry continues to display mixed price action amid an increase in the price volatility in the market. Furthermore, the leader of altcoins, <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" rel="noopener noreferrer nofollow">Ethereum price</a>, continues its struggle to hold the price above the $3,000 mark, indicating a strong bearish sentiment in the crypto space.</p>
<p>On the other hand, the Ethena price has recorded a jump of 2.87% with a 24-hour trading volume of $625.44 Million, a jump of 44.31%. Moreover, it has added 15.18% within the past seven days, indicating a rising bullish sentiment for this altcoin in the crypto industry.</p>
<h2 class="wp-block-heading" id="h-ena-price-fails-to-breach-its-important-resistance-level">ENA Price Fails To Breach Its Important Resistance Level:</h2>
<p>The Ethena token gained significant attention from the crypto space following its launch, resulting in this altcoin surging over 188% within the next few days. After recording an ATH of $1.523, the <a href="https://coinpedia.org/price-prediction/ethena-price-prediction-2024-2030-will-ena-price-cross-10/" rel="noopener noreferrer nofollow">ENA price</a> displayed a neutral trend for the next few days.</p>
<figure class="wp-block-image"><img src="https://lh7-us.googleusercontent.com/j84Ex4vpWB8vkMb_9wSII7aSamei1ifTA-bBgOgRAPnl8TaGlD6V7i9Xkp2Fq6pIklH_dkVzL8ytAawWJ1m2ScbAMQsrhzCDANIlEX51ezRHVGhT30-46JNepKMvtsOvx-qU5oeBoDeGbO1BYvuMddw" alt="ENA Price Analysis">
 <figcaption>
  TradingView: ENA/USDT
 </figcaption>
</figure>
<p>As the volatility in the market grew, the bulls lost momentum and recorded a correction of 47.47% in valuation. Since then, the price has been trading in a closed range between $0.750 and $0.975, indicating a weak buying and selling pressure for the altcoin in the crypto space.</p>
<p>The Moving Average Convergence Divergence (MACD) displays a constant decline in the green histogram, indicating an increase in the selling pressure within the crypto space. Furthermore, the averages show a high possibility of a bearish convergence, suggesting a negative outlook for the altcoin this week.</p>
<h2 class="wp-block-heading" id="h-will-ethena-price-go-up">Will Ethena Price Go Up?</h2>
<p>If the market pushes the price above its important resistance level at $0.975, the bulls will regain momentum and test its upper resistance level of $1.175. If the market holds the price at that level, it will set the stage for the ENA token to attempt to test its upper high of $1.375 in the coming time.</p>
<p>However, if the bulls fail to regain momentum, the Ethena price will continue trading under a bearish sentiment and plunge to test its crucial support level of $0.750 this month.</p>

Ethena Token Jumps 18% This Week! Can ENA Price Reclaim $1?

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