#Here is Why Ethena Is The Best Altcoin To Buy In This Dip đ
Key Points:
- ENA price tests the bottom support at $0.65.
- A death cross is visible on the 4H chart.
- Bullish reversal at $0.65 aims to reclaim $1.
The altcoin market is struggling, and Ethena (ENA) has seen a significant pullback. As ENA approaches crucial support, traders anticipate a bullish comeback.
**Death Cross: A Bearish Signal for Ethena**
Ethena's market cap has dropped from $1.33 billion to $1 billion in 60 days, and it has failed to sustain the $1 level. An attempted bullish reversal at $0.96 failed, resulting in a drop to $0.65. Currently trading at $0.70, ENA presents a buying opportunity.
**Technical Indicators:**
- **MACD:** Bullish continuation in the 4H chart suggests a reversal.
- **EMA:** The 50 and 200 EMAs show a declining trend with a death cross, indicating strong bearish influence.
**Will the ENA Price Reclaim $1?**
With the drop to $0.65, the chances of a bullish reversal are high. If successful, the price could reach $0.84. If it falls below $0.65, the price may drop to $0.50.
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