CandleFocus Ethena (ENA) Might Be Primed for a 150% Uptick — Here’s Why
2024-10-17
Author: Content Editor
The native token of Ethena, ENA, has seen a 45% surge in the past week and is currently trading at $0.38, its highest price since July. The altcoin is positioned for a potential 150% increase but the timing is uncertain. ENA is currently above its 20-day EMA and its 50-day SMA, indicating a bullish trend. The current ADX reading of 30.09 confirms the strength of the market uptrend. ENA is trading just below the resistance level of $0.48, and if this level is breached, it could lead to a potential surge of 152% to $1.01. However, if profit-taking occurs, ENA's price may struggle and could fall towards its all-time low of $0.19.
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