Ethena Price Prediction for Today, December 15 – ENA Technical Analysis
Release: 2024/12/16 07:29 Reading: 579
Ethena Price Prediction
The Ethena price is approaching the upper boundary of its channel after touching a daily high of $1.23.
Ethena Prediction Statistics Data:
- Current Ethena price: $1.19
- Ethena market capitalization: $3.57 billion
- Ethena circulating supply: 2.92 billion
- Ethena total supply: 15 billion
- Ethena Coinmarketcap ranking: #46
Bullish Rally and Potential Breakout
ENA has experienced significant growth since its all-time low of $0.1953 on September 6, 2024, rising by over 500%. While its current price range is between $1.11 and $1.23, it has not yet reached its all-time high of $1.52 from April 11, 2024.
Technical Indicators
The ENA/USD pair is exhibiting a strong bullish trend within an ascending channel, trading above both the 9-day and 21-day moving averages. This suggests sustained buyer strength. The price is testing the channel's upper boundary near $1.20.
If buying pressure continues, ENA/USD could break resistance at $1.40 and potentially target higher levels, such as $1.50, $1.60, and $1.70. However, the $1.40 resistance level poses a significant challenge.
Support and Resistance Levels
- Resistance: $1.50, $1.60, $1.70
- Support: $0.90, $0.80, $0.70
ENA/BTC Pair
The ENA/BTC daily chart shows a similar bullish momentum. The pair is nearing the upper boundary of its ascending channel at 1168 SAT. If the current trend continues, ENA/BTC could test the resistance level at 1420 SAT.
Analyst's Insights
Crypto analyst @ali_charts shared on Twitter that #Ethena ($ENA) is showing signs of breaking out from a bull pennant pattern, with a potential price target of $1.40.
Alternatives to Ethena
Wall Street Pepe has emerged as a popular meme coin in 2024, raising $23.6 million in its presale phase. Investors seeking high-reward potential may consider this option.
Disclaimer:
This information is for educational purposes only and should not be considered investment advice.
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