ENA Price Forecast: Key Indicators Suggest Continued Uptrend

The #ENA price has shown a consistent upward trajectory over the last few 4-hour sessions, indicating potential bullish momentum. Most recent closing prices have exhibited a gradual increase, suggesting that the market may be gaining strength. This is further supported by the 9 and 20 Exponential Moving Averages (EMA), which show the short-term EMA comfortably above the long-term EMA, reinforcing the bullish sentiment.

The MACD (Moving Average Convergence Divergence) indicator is also hinting at continued bullish momentum. The MACD line remains above the signal line, and the positive histogram values suggest increasing buying pressure. This momentum, coupled with the rising RSI (Relative Strength Index) nearing overbought territory, indicates that the bulls are currently in control.

Despite the bullish outlook, traders should be cautious as the RSI levels are approaching overbought conditions. This could signal a potential short-term pullback or consolidation before any further upward movement. 

For those looking to capitalize on this momentum, key resistance levels to watch include $0.403, $0.409, and the psychological barrier at $0.42. A break above these levels by the LUNC price could open the door for further gains. On the downside, support is found at $0.261 and $0.237. If the $ENA price fails to hold above these support levels, it could indicate a shift in market sentiment, potentially leading to a bearish trend. #Ethena #altcoins The full analysis and trade strategy were posted on www.ecoinimist.com.