#ENA #ethena #token
Current Price: $ENA is trading at approximately $0.36, up by 15.9% in the last 24 hours, indicating bullish momentum(DigitalCoinPrice)
Market Overview: The market capitalization of Ethena stands at $664 million, with a circulating supply of 1.9 billion ENA tokens(Free Crypto Screener). Despite its growth, the price remains significantly below its all-time high of $1.51, having corrected 76.74% from that peak
Relative Strength Index (RSI): The 14-day RSI is hovering around 69.99, signaling that ENA is approaching overbought territory, suggesting a potential risk of correction
Moving Averages:
20-Day Moving Average (SMA): $0.25 (buy signal).
50-Day Moving Average (SMA): $0.27, showing potential for continued upward movement if the price stays above this level.
100-Day Moving Average: $0.36, indicating near-term resistance
MACD (12,26): The MACD value of 0.01483 suggests neutral momentum, with potential for either continuation of the upward trend or consolidation
Bollinger Bands: Ethena's price is nearing the upper range of the bands, signaling increased volatility. A breakout could push prices higher, but caution is advised as it approaches key resistance levels at $0.36-$0.38
Key Support and Resistance:
Support: $0.25 (20-day SMA).
Resistance: $0.36 (100-day SMA) and $0.53 (200-day SMA)
Ethena shows strong bullish momentum, but the overbought RSI suggests caution. Traders should watch for a breakout above $0.38 or a potential retracement towards support at $0.25.
