The Ethena Price Could Start To Climb as the MACD Shows Promising Bullish Signs

This analysis will delve into the 4-hour chart of the #Ethena price, examining key levels and indicators to predict potential movements.

The current price is trading around $0.965, with the 9 Exponential Moving Average (EMA) trending upwards at $0.9692. The 20 EMA is lagging behind, situated at $0.9435. This divergence could signal a potential reversal or continuation of the trend.

The MACD indicator is flashing bullish signals, with a recent uptick in the MACD line and a positive histogram. This suggests that #ENA may be poised for further gains. The RSI (Relative Strength Index) has been trending upwards, currently reading 56.34, indicating a moderate level of bullish momentum.

Looking at resistance levels, two key areas are:

$1.019: A strong resistance level that would require a significant surge to test.

$1.105: An even higher resistance level that could signal a major uptrend.

In terms of support levels, there are two key areas:

$0.896: A crucial level that has previously acted as both support and resistance. If $ENA were to break below this level, it could signal a significant downtrend.

$0.881: A stronger support level that would require a more substantial decline to test. #altcoins #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.