Launched on April 2nd at $0.600, the $ENA token witnessed a remarkable surge of 153.50%, reaching an all-time high of $1.520 on April 11th.
Subsequently, it faced consistent downward pressure, trading in a bearish trend.
#Ethena established support around $0.7500 levels before initiating an upward movement.
Recently, a bullish move was observed with a 9.30% jump within a day, signaling potential for positive price action.
Although it breached the $0.90 resistance, it lacked sustainability and retraced.
However, the bullish momentum faltered, causing the price to dip back below $0.8500.
A key level to watch is the $0.7750 support; maintaining above this level could pave the way for a test of the $1.070 resistance by the weekend.
According to Coingabbar analysis, Conversely, a failure to hold $0.7750 might trigger panic selling, potentially driving the price down towards $0.5600 levels.
KEY LEVELS :
RESISTANCE LEVEL : $1.000-$1.520
SUPPORT LEVEL : $0.7000-$0.5000
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.
