Ethena

Coin

<ul class="news-points"> 
 <li>Ethena’s (ENA) 24-hour trading volume surged 79.50% to $174.19M.</li> 
 <li>The market cap fell 7.70%, setting at approximately $1.13B.</li> 
 <li>RSI indicates oversold at 23.31, suggesting a potential rebound.</li> 
</ul> 
Ethena (ENA) experienced a bearish turn in the last 24 hours after bullish momentum failed to break through the intraday high of $0.8196. Bears seized control of the market, pushing the price down to an intraday low of $0.738, where it found temporary support. 
At press time, ENA’s price was down 7%, trading at $0.7407, which aligned with an overall downward trend in the digital currency market, down by 2.85% to $2.47T in market cap. This downward movement is accompanied by a substantial increase in trading volume, indicating heightened market activity. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXekSs59pWydu-GQhbI_F6T_07GFe8YU1aBFG_4N4CYIl_W5VAUGa-A2jPzsIwqB6X4YUjjEkwx2kp6Z3aq3xyNUV6BfzZS6MjkT24--1WnVf-NAOsWkbYeOhnNaD5La5yrGjQrqTyruzIBGTK8wDMqc2wo?key=Y9-5j6vKgsDMJnYf43w8-w" alt="">
</figure> 
ENA/USD 24-hour price chart (source: <a href="https://coinmarketcap.com/currencies/ethena/#News" target="_blank" rel="nofollow">CoinMarketCap</a>) 
During the dip, the 24-hour trading volume for Ethena surged by 79.50% to $174.19 million while the market capitalization of ENA witnessed a decline of 7.70% to $1.13 billion. This suggests that while trading activity increased, the overall market valuation decreased, possibly due to investors selling off their holdings amid price declines. 
<h2 class="wp-block-heading" id="h-ena-usd-technical-analysis">ENA/USD Technica…</h2>
The post <a href="https://coinedition.com/market-analysis-ethenas-price-volatility-and-potential-rebound/">Market Analysis: Ethena’s Price Volatility and Potential Rebound</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Market Analysis: Ethena’s Price Volatility and Potential Rebound

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