bullish

Strong

Momentum

Ethena

Rise

<p>The crypto market is moving fast, with Ethena (ENA) catching traders’ eyes lately. Sjuul, a prominent analyst associated with AltCryptoGems, highlighted the asset’s bullish trend on X, noting that it remains under the radar. The chart analysis points to strong upward momentum, with critical levels providing insight into what could be next for ENA.</p>
<h2 class="wp-block-heading" id="ethena-shows-strong-bullish-momentum">Ethena Shows Strong Bullish Momentum</h2>
<p><a href="https://captainaltcoin.com/is-ethena-ena-price-about-to-explode-analyst-predicts-a-7x-rally/" target="_blank" rel="noopener noreferrer nofollow">ENA’s price</a> action suggests that the cryptocurrency is in a bullish phase. The chart reveals a breakout from a previously established resistance level, now turned into support.&nbsp;</p>
<p>This shift signals the potential for further upward movement, supported by a rounded bottom pattern seen earlier in the trend. Rounded bottoms are often indicative of a transition from bearish to bullish sentiment, confirming the asset’s strengthening position in the market.</p>
<p>Key support has been identified in the lower gray zone, which previously cushioned price pullbacks. Ethena’s price is currently testing a higher resistance level. If the asset breaks through this level with sustained volume, it may continue to climb. While volume data is not displayed, strong breakouts are often confirmed by increasing trading activity, making volume a crucial aspect to monitor moving forward.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/cardano-chart-forms-bullish-pattern-can-ada-price-rise-to-10/" target="_blank" rel="noopener noreferrer nofollow">Cardano Chart Forms Bullish Pattern: Can ADA Price Rise to $10?</a></em></strong></p>
<h2 class="wp-block-heading" id="ethena-price-chart-analysis-highlights-critical-levels">Ethena Price Chart Analysis Highlights Critical Levels</h2>
<p>The analysis indicates that <a href="https://captainaltcoin.com/ethena-ena-price-explodes-out-of-accumulation-phase-could-it-hit-new-all-time-highs/" target="_blank" rel="noopener noreferrer nofollow">Ethena’s price</a> has crossed a pivotal support-turned-resistance zone, known as the S/R Level. This area, which once capped the price, now provides a foundation for further gains.&nbsp;</p>
<p>The breakout above this level demonstrates buyer strength and suggests that momentum is favoring bulls. Traders should watch the immediate resistance level for potential rejections or further breakthroughs.</p>
<p>Despite the strong bullish signals, it is essential to consider the possibility of consolidation near the resistance level. Market participants often take profits at such points, which could temporarily slow the upward movement. Monitoring these zones will provide clarity on Ethena’s near-term trajectory.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="512" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-1024x512.png" alt="" class="wp-image-589603" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-1024x512.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-300x150.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-768x384.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-1536x768.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-2048x1024.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-100x50.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-700x350.png 700w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029-788x394.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-1029.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/AltCryptoGems/status/1862112707303854439" target="_blank" rel="noopener noreferrer nofollow">X/SjuulAltCryptoGems</a></em></strong>
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="market-sentiment-and-social-media-hype">Market Sentiment and Social Media Hype</h2>
<p>The recent tweet by Sjuul underlines Ethena’s unnoticed rise, stating, “Breaking Out Season Activated!” The commentary suggests that Ethena’s current trend could attract more attention as its performance becomes more apparent to traders. The tweet humorously adds that latecomers might become “exit liquidity,” referring to the tendency for early traders to capitalize on late buyers entering during a rally.</p>
<p>This sentiment aligns with the chart’s analysis, highlighting that while <a href="https://coinmarketcap.com/currencies/ethena/" target="_blank" rel="noopener noreferrer nofollow">Ethena’s price</a> shows promise, careful monitoring of resistance levels and market sentiment will be necessary for informed trading decisions.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/is-ethena-ena-price-poised-for-a-bullish-continuation-here-are-the-key-levels-to-watch/" rel="noopener noreferrer nofollow">Is Ethena (ENA) Price Poised for a Bullish Continuation? Here Are the Key Levels to Watch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is Ethena (ENA) Price Poised for a Bullish Continuation? Here Are the Key Levels to Watch

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