As of June 4, 2025, Ethena ($ENA ) is trading at approximately $0.3304, experiencing a slight decline of about 4.88% over the past 24 hours.

Technical Overview:

Resistance Levels: $0.36 (100-day SMA), $0.38, and $0.434.

Support Levels: $0.25 (20-day SMA), $0.326, and $0.259.

Relative Strength Index (RSI): Approximately 69.99, indicating that ENA is approaching overbought territory, which may suggest a potential risk of correction.

Moving Averages:

20-Day SMA: $0.25 (Buy signal)

50-Day SMA: $0.27

100-Day SMA: $0.36 (Resistance)

MACD (12,26): Value of 0.01483, suggesting neutral momentum with potential for either continuation of the upward trend or consolidation.

Bollinger Bands: Price is nearing the upper range, signaling increased volatility. A breakout could push prices higher, but caution is advised as it approaches key resistance levels.

Trade Idea:

Long Position:

Entry Point: Around $0.33

Take Profit (TP): $0.38 (next resistance level)

Stop Loss (SL): $0.326 (recent support level)

Short Position (if resistance holds):

Entry Point: Around $0.38

Take Profit (TP): $0.326

Stop Loss (SL): $0.39