Ethena Price Prediction for Today, June 11 – ENA Technical Analysis

The
Ethena
price
prediction
resumes
the
decline
after
touching
the
daily
high
at
$0.728,
but
the
buying
interest
may
increase
on
approach
to
$0.730.

Ethena
(ENA)
Price
Forecast
Amidst
a
Dip
in
Crypto
Fear
and
Greed
Index

ENA
has
experienced
declines
for
eight
consecutive
days,
setting
a
record
for
its
longest
losing
streak.
It
dropped
to
a
low
of
$0.07400
on
Tuesday,
marking
its
lowest
point
since
May
20th.
The
cryptocurrency
has
shed
over
half
of
its
value
from
its
peak
earlier
this
year.

Ethena
Prediction
Statistics
Data:

• Ethena
  price
  now
  –
  $0.713
• Ethena
  market
  cap
  –
  $1
  billion
• Ethena
  circulating
  supply
  –
  1.5
  billion
• Ethena
  total
  supply
  –
  15
  billion
• Ethena
  Coinmarketcap
  ranking
  –
  #73

ENA/USD
Medium-term
Trend:
Bearish
(4H
Chart)

Key
levels:

Resistance
Levels:
$0.900,
$0.950,
$1.000

Support
Levels:
$0.550,
$0.500,
$0.450

At
the
early
hours
of
today,

ENA/USD
touched
a
high
of
$0.728
and
now
retreating
below
the
9-day
and
21-day
moving
averages.
The
Ethena
price
has
been
moving
down
slowly
at
the
time
of
writing.
Meanwhile,
the
psychological
barrier
of
$0.730
still
serves
as
the
first
important
resistance
within
the
market
and
a
sustainable
move
above
this
level
may
likely
push
the
price
towards
the
daily
high
at
$0.800.

Ethena
Price
Prediction:
ENA
Price
May
Consolidate
to
the
downside

On
the
intraday
chart,
the
Ethena
price
breaks
toward
the
downside,
which
may
increase
the
selling
pressure.
At
the
time
of
writing,
the
price
is
hovering
at
the
support
level
of
$0.713
and
if
this
is
cleared,
the
sell-off
may
be
extended
to
$0.700
which
is
below
the
moving
averages.
However,
the
dips
to
$0.650
are
likely
to
be
bought,
which
means
the
overall
bullish
sentiments
may
prevail.

Moreover,
if
the
price
moves
below
the
mentioned
support,
$0.600
may
come
into
focus
which
may
serve
as
support
during
the
consolidation
period
while
the
critical
supports
could
be
located
at
$0.550,
$0.500,
and
$0.450.
On
the
upside,
the
first
resistance
may
come
at
$0.750.
Once
it
is
clear,
$0.800
could
come
back
into
focus.
Further
bullish
movement
may
hit
the
potential
resistance
levels
at
$0.900,
$0.950,
and
$1.000
as
the
9-day
MA
remains
below
the
21-day
MA.

ENA/USD
Short-term
Trend:
Bearish
(2H
Chart)

ENA/USD
on
a
2-hour
chat
is
currently
moving
bearishly
as
the
coin
touches
the
low
of
$0.706.
On
the
flip
side,
if
$0.700
remains
unconquered
in
the
short
term,
bullish
influence
could
spike.
In
this
case,
the
accrued
gains
could
be
trimmed
massively.

On
the
downside,
the
ultimate
target
is
the
support
at
$0.850
and
below.
For
now,
the
best
the
bulls
can
do
is
to
hold
above
the
weak
support
at
$0.706
and
keep
their
attention
on
breaking
toward
the
resistance
at
$0.600
and
above.
Meanwhile,
the
9-day
moving
average
keeps
hovering
below
the
21-day
moving
average,
which
may
suggest
more
bearish
signals.

On
that
note,
@waltzcson
advised
his
X
(formerly
Twitter)
followers
that
$ENA
is
currently
retesting
the
main
imbalance
gap
he
highlighted
last
week.
This
presents
a
favorable
opportunity
to
allocate
additional
capital
from
this
demand
area
towards
$0.6,
if
the
price
action
allows.
Don’t
underestimate
$ENA;
failure
to
buy
during
this
cycle
could
lead
to
regrets
later
on.

$ENA
1D.

Back
retesting
to
the
main
imbalance
gap
that
i’ve
told
last
week.

good
area
to
positioning
more
capital
from
this
demand
area
to
$0.6
if
it’s
possible
to
reach
that
price
action.

don’t
ever
fade
on

$ENA,
you’ll
regret
if
you
didn’t
buy
any
ena
this
cycle.

https://t.co/2NNDhhycxf

pic.twitter.com/DMuG7nc9mS

—
Waltzcson
(@waltzcson)

June
11,
2024

Ethena
Alternatives

The
price
of
Ethena
remains
stable
within
a
defined
range,
indicating
growing
buyer
momentum
aiming
for
the
$0.718
resistance
level.
Maintaining
confidence
in
the
recovery
phase
is
paramount,
with
a
target
of
$0.720
within
reach.
Meanwhile,
Ethena
(ENA)
stands
out
for
its
stability,
boasting
a
$1
billion
market
cap.
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