Ethena Price Prediction: ENA Maintains Its Upward Trajectory and Could Clear $1.201 Soon

In the recent trading sessions, the #Ethena price has showcased significant movements on the 4-hour chart, presenting a dynamic landscape for traders and investors alike. Starting from a closing price of $1.134, the crypto experienced a dip to $0.953, followed by a moderate recovery to $1.003 and an upward movement to $1.126 before slightly retracting to $1.107. This trajectory indicates a volatile but overall upward trend in the short term.

The 9 Exponential Moving Average (EMA) has been on a gradual incline in the past 48 hours. This progression underlines a bullish sentiment in the market, as the 9 EMA trails above the initial closing price, suggesting that buyers are gradually taking control.

Similarly, volumes have shown a varied pattern, with initial spikes, indicating a growing interest in $ENA . However, a notable decrease in the latest 4-hour session could imply a temporary consolidation or a decrease in buying momentum, which traders should watch closely.

Considering the critical level of $1.201 as a potential resistance, traders might expect some resistance near this price point. A solid break above $1.201 could signal further bullish momentum.
#ENA #BullorBear #TrendingPredictions
The full analysis and trade strategy was originally posted on ecoinimist.com.