Ethena price prediction as ENA falls 2% and investors rush to buy this eco-friendly AI cryptocurrency offering 83% APY

adminMay 23, 2024

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Ethena price has fallen 2% over the past 24 hours, trading at $0.8511 as of 1:43 AM ET, down 40% in volume.

Markets retreated ahead of today’s decision on spot Ether ETFs (exchange-traded funds).

My guess is we’ll hear from the SEC tomorrow around 4pm. For spot BTC, it was removed at 3:45 PM, while some other historical Bitcoins were removed slightly after 4 PM. Anything is possible https://t.co/MzTOcsmTnJ
— Eric Balchunas (@EricBalchunas) May 22, 2024

Ethena price prediction

Ethena price is trading with a bullish bias as it breaks through a descending parallel channel. Through the breakout, ENA is consolidating along an upward trend line.

The token faces immediate resistance due to the $0.9706 resistance level, and a correction will occur due to selling pressure due to this level of supplier congestion.

The Relative Strength Index (RSI) appears calm, moving horizontally. However, any position above the average level of 50 is bullish. This shows that the market prefers uptrends over downtrends. MACD (Moving Average Convergence Divergence) is above the orange band of the signal line.

MACD’s histogram is also flashing green to show the bulls’ dominance in the ENA market, further tilting the odds in favor of the upside.

If the bulls can increase buyer momentum, Ethena price could break the resistance due to the $0.9706 blockade. A steady closing price above this level throughout the day will encourage more buy orders and push the altcoin northward. Traders looking to take a new long position on the Ethena price will have to wait for the candlestick to close above the aforementioned level.

Ethena price

GeckoTerminal: ENA/USD 1-day chart

On the other hand, if continued profit taking continues, the price of Ethena may fall. A slide below the $0.7737 support and effectively losing the uptrend line could result in more sell orders.

If the bearish momentum increases and the Ethena price falls below the $0.6643 support level, the bullish argument will be invalidated.

A promising alternative to Ethena

Even as Ethena price makes its next move, some investors are accumulating TUK tokens, the native cryptocurrency of the eTukTuk ecosystem. Pre-sale amounts have soared beyond the $3.35 million already raised.

The project presents an innovative cryptocurrency project that will help Tuk Tuk drivers adopt more energy-efficient modes of transportation. It is focused on economic development in South Asia and Africa and will leverage the $TUK token to introduce electric Tuk Tuks and build a network of electric vehicle charging stations (EVSE).

“eTukTuk is one of the most creatively revolutionary projects to enter the EV sector in a long time. There are many EV projects, but few match the realities of people living in developing countries.” – @CoinGapeMedia
For more information, please see here: https://t.co/ZfqdSLkbG7
— eTukTuk (@eTukTukio) February 6, 2024

Cryptocurrency YouTuber DCA Crypto says the TUK project is changing the world and urges investors to buy early.

The project offers entry into the sustainable transportation revolution through a pre-sale of green $TUK tokens.

1/ Witness the groundbreaking changes in public transportation in Jammu!@Tata MotorsIndian automobile giant has launched air-conditioned Ultra EV electric buses for Jammu Smart City 🧵⚡ pic.twitter.com/TUAwJHlMaz
— eTukTuk (@eTukTukio) February 1, 2024

This project boasts a strong use case. We present a future transportation method that combines artificial intelligence and eco-friendliness. This innovative platform not only enables immediate investments and returns, but also paves the way for a sustainable transportation revolution through electric vehicles (EVs).

Electric vehicles offer more than just a comfortable ride.
they #sustainable A solution for cleaner air and reduced fuel costs.
Make smart choices for the planet and your wallet. #eTukTuk. 💰 pic.twitter.com/ifcKMroANI
— eTukTuk (@eTukTukio) May 6, 2024

As governments in South Asia and Africa embark on ambitious electric vehicle adoption targets over the next 20 years, eTukTuk is well positioned to play a key role in driving this transition.

Does your city have green transportation options?#GreenMobility #SustainableFuture
— eTukTuk (@eTukTukio) February 6, 2024

Investors can also take advantage of eTukTuk’s staking mechanism, which offers annual returns of 83%. Users will receive 4.75 $TUK for each BSC block as $TUK token incentive.

If you are interested, purchase TUK tokens for $0.032 on our website now. But don’t wait too long, as the price increase is just over a week away.

Visit and purchase eTukTuk here.