Lokesh Gupta
06-04-2024
#Ethena (ENA) continues to exhibit bullish momentum amid strength in the overall crypto market.
A recent breakout from a decisive triangle pattern signals strong bullish indications.
On April 3rd, the price peaked at $1.32 before retracing nearly 35%.
Support was identified near the 61.80% Fibonacci retracement level, followed by a breach of the 78.60% Fibonacci level.
The breach of Fibonacci levels and the triangle pattern suggests the potential for surpassing the all-time high.
Imminent price targets for ENA include $1.16, with sustained bullish momentum possibly pushing it to $1.30 and targeting the $1.50 all-time high by the end of the month.
In case of selling pressure, support around $1.00 is anticipated, aligning with the triangle line.
According to Coingabbar's analysis, Ethena's price is forecasted to reach $20 by 2030.
KEY LEVELS :
RESISTANCE LEVEL : $1.300-$2.000
SUPPORT LEVEL : $0.850-$0.600
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgement, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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