Ethena price prediction for today, June 11 – ENA Technical Analysis

adminJune 11, 2024

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Ethena price prediction resumes its decline after reaching a daily high of $0.728, but buying interest may increase as it approaches $0.730.

Ethena (ENA) price prediction amid falling cryptocurrency fear and greed index

ENA fell for eight straight days, setting a record for its longest losing streak. On Tuesday, it fell to a low of $0.07400, marking the lowest level since May 20. The cryptocurrency has lost more than half its value since its peak earlier this year.

Ethena forecast statistical data:

Current Ethena price – $0.713
Ethena market capitalization – $1 billion
Ethena circulating supply – 1.5 billion
Ethena total supply – 15 billion
Ethena Coinmarketcap Ranking – 73rd

ENA/USD medium-term trend: downtrend (4H chart)

Main level:

Resistance levels: $0.900, $0.950, $1.000

Support levels: $0.550, $0.500, $0.450

Ethena price prediction for today, June 11 – ENA Technical Analysis — ENAUSD – 4-hour chart

Earlier today, ENA/USD reached a high of $0.728 and is currently retreating below the 9-day and 21-day moving averages. As of this writing, Ethena price is slowly falling. Meanwhile, the psychological barrier at $0.730 still acts as the first significant resistance within the market, and a sustained break above this level is likely to push the price towards the daily high of $0.800.

Ethena Price Prediction: ENA Price Could Consolidate Downward

On the intraday chart, Ethena price may turn downward, increasing selling pressure. At the time of writing, the price is hovering around the $0.713 support level, if this clears, the selling could extend to $0.700, below the moving average. However, a dip to $0.650 is likely to be a buy, meaning the overall bullish sentiment may prevail.

Moreover, if the price falls below the mentioned support, it may center around $0.600, which could act as support during the consolidation period, while important supports may be located at $0.550, $0.500, and $0.450. On the positive side, the first resistance could come at $0.750. Once that becomes clear, $0.800 can come back into focus. Since the 9-day moving average remains below the 21-day moving average, further bullish movement could reach potential resistance levels of $0.900, $0.950, and $1.000.

ENA/USD Short-Term Trend: Bearish (Second Half Chart)

ENA/USD in the 2-hour chat is currently showing weakness with the coin reaching a low of $0.706. On the other hand, if $0.700 remains unconquered in the near term, the bullish influence could surge. In this case, your accumulated profits may be significantly reduced.

The downside is that the ultimate target is support below $0.850. For now, the best the bulls can do is hold on to the weak support at $0.706 and continue to pay attention to a breakout towards resistance above $0.600. Meanwhile, the 9-day moving average continues to hover below the 21-day moving average, which could signal a further bearish signal.

On that note, @waltzcson advised his This presents a lucrative opportunity to allocate additional capital at $0.6 in this demand area if price action allows. Don’t underestimate $ENA. If you fail to make a purchase during this cycle, you may end up regretting it later.

$ this 1D.
Let’s retest the key imbalance gaps we talked about last week.
If it is possible to reach that price action, it would be a good idea to deploy more capital in this demand area up to $0.6.
never fade $ this, you will regret it if you don’t buy any Ena this cycle. https://t.co/2NNDhhycxf pic.twitter.com/DMuG7nc9mS
— Waltzson (@waltzcson) June 11, 2024

Ethena Alternative

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