$ENA 🚨🚨🚨The price is rising, can it return to $1?
The cryptocurrency market has adjusted recently, and many top currencies have experienced a pullback. But in this wave of adjustments, the price of Ethena has rebounded strongly, which is eye-catching.
Let's take a look at the details of Ethena:
The current trading price is $0.5, and there are 1,710,937,500 ENA in circulation. There are a total of 15 billion ENA tokens, and the market value ranks 79th, reaching $857.2 million.
From the technical indicators, the simple moving average (SMA) shows a bullish trend in the 1D time frame, which means that buying pressure exceeds selling. Moreover, the RSI indicator also shows a strong upward trend, indicating that the price of ENA is expected to continue to rise.
So, can the price of ENA reach $1?
If the market continues to maintain this momentum, the price of Ethena is expected to hit the resistance level of $0.60. If buyers continue to dominate, the ENA price may even test the upper resistance level of $0.825.
Of course, there are always risks in the market. If sellers suddenly take action, the price of Ethena may fall to the key support level of $0.375 in the coming weeks. Therefore, investors should still proceed with caution!
