2025-09-12 03:16:38

Ethena Price Forecast: ENA rebounds following test of key support:

Ethena price found support around the ascending trendline (drawn by connecting multiple lows since July 24) on September 1 and rallied more than 15% until Wednesday. This trendline roughly coincides with the 50-day Exponential Moving Average EMA at $0.647, making this a key support zone. At the time of writing on Thursday, it steadies at around $0.783.
If ENA continues its upward momentum, it could extend the rally toward its weekly resistance at $0.921. A successful close above this level could extend gains toward its December 16 high at $1.330.
The Relative Strength Index (RSI) on the daily chart reads 59, which is above its neutral level of 50, indicating that bullish momentum is gaining traction. The Moving Average Convergence Divergence (MACD) indicator displayed a bullish crossover last week, which remains in effect, indicating sustained bullish momentum and an upward trend ahead.
However, if ENA faces a correction, it could extend the decline toward its 50-day EMA at $0.647.
#ENA
‍#TopContentChallenge ‍
#Altcoin Market Rebound
#Gate Square Mid Autumn Creator Incentive

ENA0,62%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.