Show

Ethena

Coin

<p>Crypto analysts at CryptoBusy have cautioned traders to keep a close watch on Ethena (ENA) as the cryptocurrency exhibits a clear downtrend pattern. In a <a href="https://x.com/CryptoBusy/status/1780832434868961344" target="_blank" rel="noopener noreferrer nofollow">tweet</a>, @CryptoBusy warned, “Watch out on this $ENA key level support! Waiting a confirmation on both ends will avoid you from getting rekt.”</p>
<h2 class="wp-block-heading" id="strong-the-bearish-descending-triangle-pattern-strong"><strong>The Bearish Descending Triangle Pattern</strong></h2>
<p>A descending triangle is taking shape on the ENA price chart, formed by a flat support line and a downward sloping resistance line. This bearish technical pattern typically indicates a continuation of the current downtrend. However, the analysts note it could potentially lead to a bullish reversal if the price manages to break out above the resistance.</p>
<figure class="wp-block-image"><img loading="lazy" decoding="async" width="1600" height="745" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-886.png" alt="" class="wp-image-477214" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-886.png 1600w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-300x140.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-1024x477.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-767x357.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-1536x715.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-2048x954.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-322x150.png 322w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-752x350.png 752w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-886-788x366.png 788w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure>
<p>According to the chart analysis, a key horizontal support level marked by a red line has been repeatedly tested by the ENA price. While the price has briefly dipped below this line on a few occasions, suggesting false breakouts, the support has managed to hold up so far. Nonetheless, CryptoBusy cautions that the repeated testing could signify a weakening of this critical support level.</p>
<h2 class="wp-block-heading" id="strong-two-potential-price-trajectories-strong"><strong>Two Potential Price Trajectories</strong></h2>
<p>The chart provided by CryptoBusy shows two possible future price movements for ENA. A red arrow pointing downwards indicates the bearish scenario, where the price could continue its descent, breaking down below the current support level. Conversely, a green upward arrow represents a potential bullish breakout, should the price manage to surpass the descending resistance line.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="strong-ena-s-price-actions-strong"><strong>ENA’s Price Actions</strong></h2>
<p>According to the latest price data from the cryptocurrency tracking website CoinGecko, the price of Ethena (ENA) is currently trading at <a href="https://www.coingecko.com/en/coins/ethena" target="_blank" rel="noopener noreferrer nofollow">$0.8871</a>. This represents a significant 5.69% price decline over the past 24 hours, reflecting the overall bearish sentiment surrounding the cryptocurrency.</p>
<p>CryptoBusy, hence, advises traders to “set alerts on the support and trendline resistance” levels. Moreover, they stress the importance of waiting for confirmation on both the support and resistance levels before entering any trades. Acting prematurely without confirmation could lead to heavy losses, as cautioned by their warning to “avoid getting rekt.”</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/ethena-ena-price-at-crossroads-analysts-flag-this-key-level-amid-downturn/" rel="noopener noreferrer nofollow">Ethena (ENA) Price at Crossroads: Analysts Flag This Key Level Amid Downturn</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethena (ENA) Price at Crossroads: Analysts Flag This Key Level Amid Downturn

Table of Contents

CaptainAltcoin

Other articles published on Apr 18, 2024

Coinbase Delays Pepe Coin Perp Futures Launch, PEPE Price Declines

Dogecoin, Shiba Inu And Who Else? How Meme Coins Have Evolved Since The Last Bitcoin Halving

Polygon’s Path to $1 is Game on as AI Altcoin Eyes Launch

Litecoin Simple Price Analysis: LTC Price Preparing for a Fresh Upswing to Reclaim $100

Solana might break its April bearish streak, Will it regain $200?

From Bitcoin to Ethereum: Top Cryptocurrencies for Online Casino Payments

Join our free newsletter for daily crypto updates!