CandleFocus Ethena flips crucial resistance as crypto fear and greed index rises
2024-10-15
Author: Content Editor
The price of Ethena token (ENA) has risen for three consecutive days as sentiment in the crypto industry improved. It reached its highest level since July 24, jumping over 130% from its lowest level this year. The rally coincided with the rise in the crypto fear and greed index and the strong performance of Bitcoin, Ethereum, and Solana. Additionally, the odds of the USDe stablecoin losing its peg decreased, providing further support for ENA. Despite a decrease in the total value locked in its ecosystem, Ethena has made significant moves, including plans to invest $46 million in tokenized assets and receiving backing from BlackRock and Securitize. The ENA price is expected to continue rising towards the key resistance level at $0.5150.
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