The cryptocurrency Ethena (ENA) has established a critical support level at $0.108, according to market analysis. Analysts state that holding above this price is essential for maintaining bullish momentum, with a potential target of $0.129 identified if strength is sustained. Current technical data shows the price trading below all major moving averages, indicating bearish momentum, though some indicators suggest the selling pressure may be decreasing.
The cryptocurrency Ethena (ENA) has established a critical support level at $0.108, drawing attention from traders. Holding above this price “is seen as essential for maintaining bullish momentum, as it signals market confidence and stability,” according to the crypto analyst Ali Charts.
If ENA maintains strength above $0.108, the next target emerges at $0.129. Market observers emphasize watching trading volumes and sentiment closely as determining factors.
Technical data shows ENA’s price is currently below all major EMA levels, indicating bearish momentum. The price is also trading near the lower Bollinger Band, signaling a high level of market volatility.
Price action indicates repeated failed rallies within a specific range, with a pattern of lower highs and lower lows. A fall below the Bollinger Band at $0.10611 could indicate further selling pressure.
Momentum indicators point to decreasing bearish strength for the token. The RSI is below 50 but rising, which analysts interpret as the beginning of buying interest.
The MACD indicator shows the MACD line just below the signal line. Decreasing histogram bars indicate a weakening sell trend, which could precede a potential bullish crossover.
