CandleFocus ENA Price Shows Bullish Pattern at Bottom: Can It Reclaim $1 Mark?
2024-10-20
Author: Content Editor
The Ethena (ENA) price has experienced a continuous decline but has recently shown signs of a bullish recovery. It defended the $0.200 zone and formed a bullish candlestick pattern, surpassing the last two swing highs. Currently priced at $0.393 with an intraday loss of 2.03%, the ENA price has surged by over 80% and surpassed the 20-day exponential moving average. If it can sustain above the neckline and exceed the $0.500 hurdle, it may have the potential to reach the $1 mark in the coming months. However, a loss of momentum near the $0.500 hurdle could generate a bearish signal. Technical indicators such as the RSI and MACD show mixed signals but suggest a potential bull run. Analysts believe the ENA price has formed a bullish base and may trend upwards. Overall, the ENA price has shown a promising pattern and could potentially reclaim the $1 mark if the bullish momentum continues.
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