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Ethena price soared 29% in the past week and 4% in the past 24 hours to trade at $1.27 as of 11:18 p.m. EST on trading volume that plunged 15% to 1 .1 billion dollars.
Ethena Price on a sustained bullish rally
The ENA/USD chart shows a classic rounded bottom pattern where the Ethéna prize decreased steadily before finally rising again. This trend is bullish and often signals a strong trend reversal.
After breaking the bottom around $0.20, Ethena price rose parabolicly, breaking through key resistance levels, according to data from GeckoTerminal. This strong upward curve suggests aggressive buying and strong bullish sentiment.
ENA price is now trading above the 50-day and 200-day simple moving averages (SMA), reinforcing the overall bullish outlook. The 50-day SMA also crossed above the 200-day SMA, forming a golden cross around $0.47, which is also a sign that Ethena price may continue to soar.
The Relative Strength Index (RSI) is currently at 75.11, signaling overbought conditions. While this indicates strong momentum, it also suggests the possibility of pullbacks or price consolidation in the near term.
The blue Moving Average Convergence and Divergence (MACD) line is well above the orange signal line, showing strong bullish momentum. The histogram bars are increasing, further confirming the upward trend.
ENA course forecast
ENA technical indicators and price structure suggest a continuation of the uptrend. If the momentum continues, Ethena price could reach $1.50-$1.60 in the near term, aligning with the next resistance zone. A break above this region could lead to further gains towards $1.80 or higher.
Considering the overbought RSI reading, a short-term pullback towards $1.00 – $1.10 (support levels) or the 50-day SMA ($0.6882) is possible before the next bullish leg.
Meanwhile, investors are also investing in the pre-sale of Best Wallet ($BEST)which YouTuber ClayBro, with over 133,000 subscribers, says “could be the best crypto wallet of 2025”.
Best Wallet’s $BEST Raises Over $4.5 Million in Presale
With over $4.5 million raised so far, Best Wallet (BEST) is positioning itself to become one of the best cryptocurrency wallets on the market.
More than 4 million dollars raised in the $BEST Presale! 🔥
Best wallet family, we are unstoppable! This presale is moving quickly and each phase is closing faster than before.
Secure your $BEST tokens before moving on to the next step! 🌟
Join us here 👉 pic.twitter.com/HpkPyzL4Ty
– Best Wallet (@BestWalletHQ) December 13, 2024
The wallet offers advanced features that go beyond the capabilities of traditional wallets like MetaMask and Trust Wallet.
The platform functions as a multi-chain crypto wallet, supporting over 60 blockchains with plans to add more. This broad network support includes built-in DEX functionality that offers low-cost token swaps and swaps.
A key feature of Best Wallet is the upcoming token portal. It gives users direct access to hot presales. Users can explore, search, and purchase presales from the upcoming token dashboard.
The Best Wallet team aims to make cryptocurrency trading easier for new and experienced investors.
Don’t miss the first steps again #crypto projects! 💸
With Best Wallet’s Upcoming Tokens feature, you can easily browse, learn, and purchase presale tokens right from the app!
Download now! 👉 pic.twitter.com/ZcNZ1b6Up1
– Best Wallet (@BestWalletHQ) October 26, 2024
Traders can also stake BEST tokens for a whopping 553% annual percentage yield (APY).
$BEST is currently priced at $0.0232. If you’re interested, buy before a price hike in less than a day.
Join the presale on the official website of BEST Token.
Related news
Best Wallet – Manage Your Crypto
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