Ethena (ENA) recently, suggesting potential upward momentum.
$ENA Ethena (ENA) has recently exhibited bullish trading patterns, suggesting potential upward momentum. Notably, the token has formed a cup-and-handle pattern, a technical indicator often associated with future price increases. Analysts have identified a key resistance level at $1.32; surpassing this could pave the way for a target price of $2.44, representing an approximate 85% gain.
$ENA Additionally, the Total Value Locked (TVL) in the Ethena protocol stands at $5.921 billion, mirroring patterns observed before significant price rallies in 2024. This stability in TVL, combined with the current technical formations, contributes to a positive outlook for ENA's price trajectory.
$ENA While these indicators are promising, it's essential to consider that the cryptocurrency market is highly volatile. Therefore, conducting thorough research and exercising caution is advisable when making investment decisions.
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