The cryptocurrency Ethena (ENA) is trading near a critical support level of $0.108, currently priced at $0.1106. Analysts indicate a potential recovery target of $0.129 if support holds, as the token’s Relative Strength Index suggests it may be approaching an oversold condition. The token’s 24-hour trading volume is approximately $182.7 million amidst recent market selling pressure.
Ethena is showing early signs of a potential bounce as its price defends a key support level. The token is currently trading at $0.1106 after a slight recovery from recent declines.
Analysts forecast a possible recovery targeting $0.129 if the trend continues. The token’s 24-hour trading volume is $182.7 million with a market capitalization of $910.1 million.
Crypto analyst Ali Martinez identified $0.108 as a crucial support level for ENA. “If this support level holds, the next target comes into focus at $0.129,” according to his analysis.
The Relative Strength Index signals that Ethena is nearing a lower momentum edge. Historically, the price has bounced back from the $0.1070 support zone on multiple occasions.
The RSI is currently consolidating above the 100-period moving average. This pattern is viewed as a strong indication of a potential upward move.
