Ethereum

Satoshi

Arbitrum

Ethena

<p>The cryptocurrency market is witnessing a surge in the prices of Ethena (ENA) and Arbitrum (ARB), amidst the recent surge in Ethereum price. This price action comes amidst growing optimism surrounding the potential approval of an Ethereum ETF and favorable technical indicators.</p>
<h2 class="wp-block-heading" id="ethena-ena-price-soars-on-falling-wedge-breakout">Ethena (ENA) Price Soars on Falling Wedge Breakout</h2>
<p>Ethena (ENA) has experienced a 19.33% increase in the past 24 hours, with its price currently sitting at $0.8657. The token’s price performance has ranged from a low of $0.7148 to a high of $0.8782 during this period.</p>
<p>According to a tweet by <a href="https://x.com/CryptoFaibik/status/1792760625849892951" target="_blank" rel="noopener noreferrer nofollow">Captain Faibik</a>, ENA’s price action has confirmed a falling wedge breakout, which appears promising for a potential 50% bullish rally in the short term. This technical pattern is often considered a bullish signal, indicating a possible trend reversal.</p>
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<h3 class="wp-block-heading" id="insider-activity-fuels-ena-s-price-action">Insider Activity Fuels ENA’s Price Action</h3>
<p>Spot On Chain has highlighted the activities of a multisig wallet linked to “lemmasolutions.eth,” which has made a substantial profit of $1.87M (+19%) from ENA in just four days.</p>
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   <p lang="en" dir="ltr">Lucky or Insider? Multisign linked to "lemmasolutions.eth" is making $1.87M (+19%) from <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ENA</a> in just 4 days!<br><br>This multisign has withdrawn a total of 13.86M <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ENA</a> from <a href="https://twitter.com/hashtag/Gate?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Gate</a>.io since May 17, with the latest withdrawal done 17 hours ago, right before the price soared <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>• Avg… <a href="https://t.co/7ejvvXDNQj" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/7ejvvXDNQj</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1792810691344347322?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 21, 2024</a>
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<p>This multisig has withdrawn a total of 13.86M ENA from Gate.io since May 17, with the latest withdrawal occurring 17 hours ago, just before the price soared. The average entry price for this wallet was $0.731, with an estimated cost of $10.13M, and the holdings are now worth $12M.</p>
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<h2 class="wp-block-heading" id="arbitrum-arb-price-breaks-trendline-resistance">Arbitrum (ARB) Price Breaks Trendline Resistance</h2>
<p>Arbitrum (ARB) has also seen a price increase, rising by 25% in the past 24 hours. The token is currently trading at $1.21, with a 24-hour low of $0.968 and a high of $1.22</p>
<p>A post by Coin Mastermind on <a href="https://coinmarketcap.com/community/post/336522217/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> notes that ARB has broken out from the trendline resistance. Investors are advised to watch for a potential pullback (retest) and, upon confirmation, expect another bullish leg.</p>
<p>BlackSheepCryptoTrading, a popular crypto analyst on X, has shared a chart analysis of ARB, indicating that the token was a good trigger for a long position at $0.99.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ARB</a> <br><br>Chart on request. <br><br>I like this chart. <br><br>It was good trigger for long at 0.99. <br>For now, I will be a buyer if we reclaim 1.19 with targets 1.27 and 1.42.<br><br>Intraday, we can long 1.04 if we get leverage flush on BTC. <a href="https://t.co/ETT2M7qsmR" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ETT2M7qsmR</a></p>— BlackSheepCryptoTrading (@ItsBlackSheepp) <a href="https://twitter.com/ItsBlackSheepp/status/1792857026076221928?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 21, 2024</a>
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<p>The analyst suggests that they will be a buyer if ARB reclaims the $1.19 level, with targets set at $1.27 and $1.42. Additionally, they note that intraday traders can consider longing ARB at $1.04 if there is a leverage flush on Bitcoin (BTC). Since this tweet, the ARB price actually “reclaimed” $1.19 level.</p>
<h2 class="wp-block-heading" id="ethereum-etf-optimism-boosts-market-sentiment">Ethereum ETF Optimism Boosts Market Sentiment</h2>
<p>The recent surge in the prices of ENA and ARB can be attributed, in part, to the growing optimism surrounding the potential approval of an Ethereum ETF.</p>
<p>According to a tweet by <a href="https://x.com/santimentfeed/status/1792588257290801472" target="_blank" rel="noopener noreferrer nofollow">Santiment</a>, Bloomberg has assessed that the likelihood of an Ethereum ETF approval has increased from 25% to 75%. This news has led to an increase in the market capitalization of Ethereum and the entire altcoin market, with ETH crossing above $3,650 for the first time since April 9th.</p>
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<p>The post <a href="https://captainaltcoin.com/ethena-ena-and-arbitrum-arb-prices-pumping-heres-why/" rel="noopener noreferrer nofollow">Ethena (ENA) And Arbitrum (ARB) Prices Pumping: Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethena (ENA) And Arbitrum (ARB) Prices Pumping: Here’s Why

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