Bullish ENA price prediction for 2024 is $1.009 to $1.523.
Ethena (ENA) price might reach $3 soon.
Bearish ENA price prediction for 2024 is $0.442.
In this Ethena (ENA) price prediction 2024, 2025-2030, we will analyze the price patterns of ENA by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS INTRODUCTION
Ethena (ENA) Current Market Status
What is Ethena (ENA)?
Ethena (ENA) 24H Technicals
ETHENA (ENA) PRICE PREDICTION 2024
Ethena (ENA) Support and Resistance Levels
Ethena (ENA) Price Prediction 2024 — RVOL, MA, and RSI
Ethena (ENA) Price Prediction 2024 — ADX, RVI
Comparison of ENA with BTC, ETH
ETHENA (ENA) PRICE PREDICTION 2025, 2026-2030 CONCLUSION FAQ
Ethena (ENA) Current Market Status
Current Price $0.7165 24 – Hour Price Change 0.14% Up 24 – Hour Trading Volume $180,286,896 Market Cap $1,088,719,694 Circulating Supply 1,520,312,500 ENA All – Time High $1.52 (On Apr 11, 2024) All – Time Low $0.5275 (On Apr 02, 2024)
ENA Current Market Status (Source: CoinMarketCap) What is Ethena (ENA) TICKER ENA BLOCKCHAIN Ethereum CATEGORY Stablecoin Protocol LAUNCHED ON April 2, 2024 UTILITIES Governance, Fast Transactions, gas fees & rewards
Ethena (ENA) is a decentralized finance (DeFi) platform aiming to bring stability and innovation to the cryptocurrency space. It leverages a unique dual-token system comprising the ETHA token, used for governance, and the ENA token, a stablecoin designed for minimal price volatility. Ethena focuses on providing a reliable stablecoin solution while enabling decentralized financial services like lending, borrowing, and trading. Through its robust smart contract infrastructure and community-driven governance, Ethena seeks to offer a secure and efficient ecosystem for users to manage and grow their digital assets.
Ethena 24H Technicals
(Source: TradingView)
Ethena (ENA) Price Prediction 2024
Ethena (ENA) ranks 15th on CoinMarketCap in terms of its market capitalization. The overview of the Ethena price prediction for 2024 is explained below with a daily time frame.
ENA/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Ethena (ENA) laid out a horizontal channel pattern. A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contract points. This is because it needs at least two lows to connect, as well as two highs. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. The longer the horizontal channel, the stronger the exit movement will be. There is frequently a price on the channel after exit. the exit often occurs at the fourth contact point on one of the horizontal channel’s lines.
At the time of analysis, the price of Ethena (ENA) was recorded at $0.7165. If the pattern trend continues, then the price of ENA might reach the resistance level of $0.797, and $1.006. If the trend reverses, then the price of ENA may fall to the support of $0.649.
Ethena (ENA) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Ethena (ENA) in 2024.
ENA/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Ethena (ENA) for 2024.
Resistance Level 1 $1.009 Resistance Level 2 $1.523 Support Level 1 $0.649 Support Level 2 $0.442
ENA Resistance & Support Levels
Ethena (ENA) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Ethena (ENA) are shown in the chart below.
ENA/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Ethena (ENA) market in 2024.
INDICATOR PURPOSE READING INFERENCE 50-Day Moving Average (50MA) Nature of the current trend by comparing the average price over 50 days 50 MA = $0.744Price = $0.720(50MA > Price) Bearish/Downtrend Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 46.371<30 = Oversold50-70 = Neutral>70 = Overbought Nearly Oversold Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak volume
Ethena (ENA) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Ethena (ENA) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
ENA/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Ethena (ENA).
INDICATOR PURPOSE READING INFERENCE Average Directional Index (ADX) Strength of the trend momentum 12.081 Weak Trend Relative Volatility Index (RVI) Volatility over a specific period 51.33<50 = Low>50 = High High volatility
Comparison of ENA with BTC, ETH
Let us now compare the price movements of Ethena (ENA) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs ENA Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of ENA is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ENA also increases or decreases respectively.
Ethena (ENA) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Ethena (ENA) between 2025, 2026, 2027, 2028, 2029, and 2030.
Year Bullish Price Bearish Price Ethena (ENA) Price Prediction 2025 $4.2 $0.4 Ethena (ENA) Price Prediction 2026 $5.4 $0.3 Ethena (ENA) Price Prediction 2027 $6.6 $0.2 Ethena (ENA) Price Prediction 2028 $7.8 $0.1 Ethena (ENA) Price Prediction 2029 $8 $0.09 Ethena (ENA) Price Prediction 2030 $9.2 $0.08
Conclusion
If Ethena (ENA) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Ethena (ENA) price prediction for 2024 is $1.523. Comparatively, if unfavorable sentiment is triggered, the bearish Ethena (ENA) price prediction for 2024 is $0.442.
If the market momentum and investors’ sentiment positively elevate, then Ethena (ENA) might hit $3. Furthermore, with future upgrades and advancements in the Ethena ecosystem, ENA might surpass its current all-time high (ATH) of $1.52 and mark its new ATH.
FAQ
1. What is Ethena (ENA)?
Ethena (ENA) is a decentralized finance (DeFi) platform aiming to bring stability and innovation to the cryptocurrency space.
2. Where can you purchase Ethena (ENA)?
Ethena (ENA) has been listed on many crypto exchanges, which include Binance, LBank, 4E, Toobit, and CoinW.
3. Will Ethena (ENA) reach a new ATH soon?
With the ongoing developments and upgrades within the Ethena platform, ENA has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Ethena (ENA)?
On April 11, 2024, Ethena (ENA) reached its new all-time high (ATH) of $1.52.
5. What is the lowest price of Ethena (ENA)?
According to CoinMarketCap, ENA hit its all-time low (ATL) of $0.5275 on April 02, 2024.
6. Will Ethena (ENA) reach $3?
Ethena (ENA) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Ethena (ENA) will hit $3 soon.
7. What will be Ethena (ENA) price by 2025?
Ethena (ENA) price is expected to reach $4.2 by 2025.
8. What will be Ethena (ENA) price by 2026?
Ethena (ENA) price is expected to reach $5.4 by 2026.
9. What will be Ethena (ENA) price by 2027?
Ethena (ENA) price is expected to reach $6.6 by 2027.
10. What will be Ethena (ENA) price by 2028?
Ethena (ENA) price is expected to reach $7.8 by 2028.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.