Bittime - The crypto industry continues to display mixed price movements amidst increasingvolatilityin the market. Meanwhile, the price ofEthereum, thealtcoin, continues to struggle to maintain its price above the $3,000 level, indicating astrongbearish
On the other hand, Ethena (ENA) price has recorded a surge of 2.87% with a 24-hour trading volume of $625.44 million, a jump of 44.31%. Additionally, in the last seven days, ENA price has added 15.18%, indicating increasing bullish sentiment for this altcoin in the crypto industry.
ENA Price Fails to Break Important Resistance Level
The Ethena (ENA) token received significant attention from the crypto space after its launch, resulting in the altcoin surging more than 188% in the following days. After recording an ATH (All-Time High) of $1,523, ENA price displayed a neutral trend over the next few days.
As volatility in the market increased, the bulls (buyers) lost momentum and recorded a correction of 47.47% in valuations. Since then, the price has been trading in a closed range between $0.750 and $0.975, indicating weak buying and selling pressure for this altcoin in the crypto space.
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Possible Bearish Convergence
The Moving Average Convergence Divergence (MACD) indicator displays a constant decline in the green histogram, indicating increasing selling pressure in the crypto space. Additionally, the averages indicate a high probability of bearish convergence, suggesting a negative outlook for this altcoin this week.
Will Ethena Prices Rise?
If the market pushes the price above its important resistance level of $0.975, the bulls will gain momentum and test its upper resistance level of $1.175. If the market maintains the price at that level, it will set the stage for the ENA token to attempt to test its high of $1,375 in the future.
However, if the bulls fail to gain momentum, Ethena price will continue to trade under bearish sentiment and fall to test its important support level of $0.750 this month.
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Conclusion
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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