bullish

Ethena

<p>With the Ethena market cap crossing about $2 billion, the ENA price has surged nearly 40% in the past seven days. Will this bullish recovery rally lead to a price surge beyond the $1 mark? Let's find out in our latest Ethena price analysis.</p>   
<h2 class="wp-block-heading" id="h-ethena-ena-price-analysis">Ethena (ENA) Price Analysis</h2>   
<p>The Ethena price trend showcases a triangle breakout rally gaining momentum. In the daily chart, the ENA price broke above the break above a long-coming resistance trendline on November 6.&nbsp;</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/28143455/image-26-1024x509.webp" alt="Ethena (ENA) Price Chart" class="wp-image-386436">
</figure>   
<p><a href="https://www.tradingview.com/x/HcUK1nwX/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>The 37% surge in ENA price resulted in a bullish engulfing candle following the morning star pattern at 23.60% Fibonacci level. Hence, starting from the $0.32 support level, the altcoin has now increased 123% to the current market price of $0.72.&nbsp;</p>   
<p>The recovery rally has surpassed the multiple resistance levels during its course. Currently, the ENA price is trading above the 61.80% Fibonacci level at $0.68 and has surpassed the 200-day EMA line.&nbsp;</p>   
<p><strong>Technical indicators:</strong></p>   
<p><strong>EMA: </strong>The increased bullish influence has resulted in a bullish crossover between the 50-day and 100-day EMA lines. Furthermore, the 50-day EMA line is inching closer to the 200-day EMA, teasing a golden crossover.&nbsp;</p>   
<p><strong>MACD</strong>: The MACD and signal lines have avoided a bearish crossover for the second time and regained a bullish alignment with a surge of positive histograms. Hence, the technical indicators maintain a bullish signal.</p>   
<h2 class="wp-block-heading" id="h-will-the-ena-price-reclaim-0-50">Will The ENA Price Reclaim $0.50?</h2>   
<p>In the short term, the ENA price trend is on the verge of giving a rising wedge breakout rally as it challenges the local ascending resistance trend line. With this breakout, the upward trend will likely continue to $0.95 or the 78.60% Fibonacci level.&nbsp;</p>   
<p>This will complete the rounding bottom reversal pattern. On the flip side, a bullish short failure will retest the local support trend line near. In case of a breakdown rally, the crucial support levels are present at $0.54 and the 50-day EMA at $0.49.</p>   
<p>Will Ethena’s breakout rally reach $1 this year? Find out in our <a href="https://coinpedia.org/price-prediction/ethena-price-prediction-2024-2030-will-ena-price-cross-10/" target="_blank" rel="noreferrer noopener">ENA Price Prediction</a>.</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732784641228">
  <strong class="schema-faq-question"><strong>1. What is the current price of ENA, and how much has it gained?</strong></strong> 
  <p class="schema-faq-answer">ENA is trading at $0.72, marking a 123% gain from its $0.32 support level after breaking past key resistance.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732784647987">
  <strong class="schema-faq-question"><strong>2. Can ENA reach $0.95 in the near term?</strong></strong> 
  <p class="schema-faq-answer">With bullish momentum and a potential rising-edge breakout, ENA could reach $0.95, aligning with the 78.60% Fibonacci level.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732784648373">
  <strong class="schema-faq-question"><strong>3. What are the major support levels for ENA if the rally fails?</strong></strong> 
  <p class="schema-faq-answer">ENA’s crucial support levels are at $0.54 and $0.49, aligning with the local trend line and 50-day EMA, respectively.</p> 
 </div> 
</div>

ENA Price Surges 123%, Eyes $0.95 Target with Triangle Breakout?

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