Ethena (ENA) Price Analysis for the Week The ENA p
Ethena (ENA) Price Analysis for the Week
The ENA price has completed the parabolic recovery and is subjected to a correction, which points to a potential cup & handle pattern
The price tested the local support at $0.52 and rebounded, but it is yet to validate the recovery that could happen once the levels surpass & sustain above $0.61
The RSI has begun with a bullish divergence, while the volume has remained incremental since the beginning of July
Therefore, the Ethena price may rise and reach $0.6974 local resistance if it continues to rise, but it may encounter a strong bearish action before surpassing $0.7
On the other hand, if the bears continue to slash the prices lower, it could enter the support zone close to $0.45 which could attract a significant liquidity and propel prices beyond $0.7 which may further lead to $1
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