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Ethena price prediction resumed its decline after hitting a daily high of $0.728, but buying interest is likely to increase as it approaches $0.730.
Ethena (ENA) Price Prediction Made Amid Decline in Crypto Fear and Greed Index
ENA has fallen for eight consecutive days, marking its longest losing streak on record. On Tuesday, it fell to a low of $0.07400, marking its lowest point since May 20. The cryptocurrency has lost more than half of its value from its highs earlier this year.
Ethena forecast statistics:
Ethena current price – $0.713
Ethena Market Cap – $1 billion
Ethena Circulating Supply - 1.5 billion
Ethena Total Supply - 15 billion
Ethena Coinmarketcap Ranking-73rd
ENA/USD Medium-term trend: Bearish (4-hour chart)
Key Levels:
Resistance Levels: $0.900, $0.950, $1.000
Support Levels: $0.550, $0.500, $0.450
Earlier today,
ENA/USD
It touched a high of $0.728 and is now retreating below the 9-day and 21-day moving averages. As of the time of writing, the Ethena price has been slowly declining. Meanwhile, the psychological barrier of $0.730 remains the first significant resistance within the market and a sustained break above this level could push the price towards daily highs of $0.800.
Ethena Price Prediction: ENA price is likely to consolidate downwards
On the intraday chart, Ethena price has broken down, which may increase the selling pressure. As of the time of writing, the price is hovering near the $0.713 support level, and if it breaks above this level, the selling may extend to $0.700, below the moving averages. However, there may be buying to $0.650, which means that the overall bullish sentiment may prevail.
Moreover, if the price breaks below the aforementioned support, $0.600 is likely to come into focus which is likely to act as support during consolidation while key supports are likely to be located at $0.550, $0.500, and $0.450. On the upside, the first resistance is likely to be seen at $0.750. Once clear, $0.800 is likely to come into focus again. Further bullish moves may hit the potential resistance levels of $0.900, $0.950, and $1.000 as the 9-day moving average remains below the 21-day moving average.
ENA/USD Short-term trend: Bearish (2-hour chart)
On the 2-hour chart
ENA/USD
There is currently a bearish movement as the coin hit a low of $0.706. On the other hand, the bullish impact is likely to increase if $0.700 holds in the near term. In such a case, the accumulated gains are likely to reduce significantly.
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