Crypto Express
07/21 01:38
Can ENA hold the gains?
According to analysis, Ethena’s uptrend strengthened as buyers returned with strength.
As a result, Ethena flipped the Long Term Moving Averages for the first time since February. As of this writing, ENA was sitting above Long-term MAs with 200MA at $0.4417 and 200EMA at $0.41.
When prices move above the long-term MA, it signals a strong upward move and its potential to continue. That said, to keep the bullish outlook, ENA must close decisively above the 200 MA band.
By doing so, the uptrend will continue and Ethena will face the next significant resistance around $0.68. However, if this upward move fails and a pullback emerges, ENA will retrace to $0.41.
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