Ethena Price Hints Bullish Surge! ENA Price Eyes To Reclaim $1?
The post Ethena Price Hints Bullish Surge! ENA Price Eyes To Reclaim $1? appeared first on Coinpedia Fintech News
Amid cross-border market correction, top crypto tokens have recorded a notable correction over the past day. However, the Ethena price has recorded a strong bullish recovery by adding significant valuation to its portfolio over the past few hours.
With the current market sentiments, is Ethena the best crypto coin to buy right now? Scroll down as, in this article, we have covered the price analysis and possible short-term price targets for the ENA crypto token.
Ethena Price Records Increased Price Action:
After trading under a bearish sentiment for a brief period and recording a correction of 12.73% within the past 30 days, the ENA price has regained momentum. It has added 11.01% to its portfolio within the past day with a trading volume of $140.25 Million, a change of +91.52%.
With the current trading price of $0.487, a circulating supply of 1,710,937,500 ENA, and a total supply of 15 Billion ENA tokens, the Ethena crypto has secured the 84th position with a market capitalization of $846.25 Million.
The Simple Moving Average (SMA) is on the verge of recording a bullish convergence in the 1D time frame, suggesting increased buying-over-selling pressure for the altcoin in the crypto space.
Further, the RSI indicator has successfully regained momentum and has displayed a sharp rise toward its mid-point. This highlights a strong bullish outlook for the ENA coin price in the coming time.
Will ENA Price Surge To $1?
If the market regains momentum, the Ethena price will reach its resistance level of $0.60. Furthermore, if the bulls continue to dominate the market, the ENA price will prepare to test its upper resistance level of $0.825.
However, if the bears overpowered the bulls, the Ethena price will plunge toward its crucial support level of $0.375 during the upcoming weeks.
