Rally

Strong

Ethena

Coin

<ul class="news-points">
 <li>ENA indicates potential for a short-term rebound despite the prevailing downward trend.</li>
 <li>Key resistance at $0.800; a breakout might lead to a price rally towards $0.900.</li>
 <li>Strong support levels at $0.700 and $0.600 suggest strong buying interest.</li>
</ul>
Ethena (ENA), a cryptocurrency currently experiencing volatility, is showing signs of a potential rebound despite a recent downward trend, according to technical analysis.
As of writing, ENA is <a href="https://coinmarketcap.com/currencies/ethena/" target="_blank" rel="noopener noreferrer nofollow">trading at</a> $0.730, reflecting a 1.53% increase over the past 24 hours.&nbsp;
The 4-hour trading chart of ENA against Tether (USDT) shows a persistent downward trend since late April. ENA’s price action has been characterized by lower highs and lower lows, indicating sustained bearish momentum. Recently, the price bounced back slightly from a significant dip in early June, where the price touched around $0.600. This rebound suggests potential short-term bullish sentiment.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfRvUvnCU5P9BtCL1tY_5GlpQ8SMO0GbMu0VtyBS3blImulf7nSBrstgRu00yzOWcxzbEgBk9saAiD0-3XWbAwPBmWfOYLQkI5aCcRjyldFS7pItJOmkRZcpyNUzJUXINjNLQq5Cmfd5GFVstnmROM46fw9?key=4PzRKPglIwu-Ptkt8X-Q7g" alt="">
</figure>
The 4-hour trading chart of ENA against Tether (USDT) shows a persistent downward trend since late April. ENA’s price action has been characterized by lower highs and lower lows, indicating sustained bearish momentum. Recently, the price bounced back slightl…
The post <a href="https://coinedition.com/ethena-ena-on-the-move-is-a-rally-in-the-works/" rel="noopener noreferrer nofollow">Ethena (ENA) on the Move: Is a Rally in the Works?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Ethena (ENA) on the Move: Is a Rally in the Works?

Coin Edition

Other articles published on Jun 14, 2024

Bitcoin's RSI and Its Historical Significance in Market Cycles

MATIC struggles to break free from market lows – What now?

The Future of DeFi: Bitgert's Innovative Approach

Bitcoin’s Decline Affects Dogecoin’s Price

3 reasons why $65K marks the bottom for Bitcoin

All About NFT Games- A Peek into the Future

Join our free newsletter for daily crypto updates!