š„ Update on Ethena price movement ($ENA )
ENA has just recorded a significant price surge with a daily increase of +27.28%, breaking through $0.60, and even touching a high of $0.6245 in the last 24 hours š
Technically, the breakout that occurred beyond the 0.50 resistance level is quite solid, driven by a large volume of 850 million ENA in the last 24 hours. This increase is also accompanied by a sharply rising short-term moving average (MA 7) that crosses MA 25 and MA 99 ā indicating strong bullish momentum in the short term š
This price increase has also made ENA's performance in 7 days rise by +53.45%, 30 days up by +132.73%, and even Year-to-Date reaching +135.65%. It's fair to say that ENA is currently among the most impressive performing tokens in the DeFi sector š
However, after reaching the point of 0.6245, there was a slight rejection that could be an early signal of consolidation or a potential minor retracement. Watch the new support area around 0.52-0.55 which has now become an important structural level.
ā Watchlist for continuation if the volume remains solid
ā ļø Beware of rejection if unable to maintain the area above $0.60
š Also pay attention to updates from the project and DEX liquidity supporting it
š Disclaimer: Not Promotion & Not Financial Advice
