Lokesh Gupta
03-04-2024
#Ethena (ENA) is experiencing a notable rise as a DeFi project since its recent launch, garnering increasing attention within the crypto community.
Over the past 24 hours, $ENA has demonstrated significant price growth, surging by more than 37%.
The launch of the #Ethena token triggered considerable market interest, resulting in a remarkable price surge of approximately 214%.
Following its public debut on Tuesday, $ENA achieved a peak price of $0.940, marking a substantial increase from its initial value of $0.500.
Analysis of the short-term timeframe reveals the formation of an Inverted Head and Shoulder Pattern for $ENA.
Despite prevailing market downturns, #Ethena has exhibited resilience, gaining momentum during its second day session.
In-depth analysis reveals the Supertrend indicator below the price, showing green, indicating a bullish trend.
If bullish momentum persists, Ethena's price is expected to reach $1, with potential to climb further to $2.
Conversely, If the bullish rally lose momentum, ENA might undergo a decline, testing support levels at $0.700 and $0.500.
According to Coingabbar's analysis, Ethena price prediction 2030 is predicted to hit $20, Ethena Price Prediction 2040 could potentially reach $50.
KEY LEVELS :
RESISTANCE LEVEL : $1.300-$2.000
SUPPORT LEVEL : $0.550-$0.300
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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