Ethena Gained 40.70% in Last Month and is Predicted to Reach $ 0.489884 By Oct 27, 2024

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

  • Ethena is down -4.39% today against the US Dollar
  • ENA/BTC decreased by -4.08% today
  • ENA/ETH decreased by -2.56% today
  • Ethena is currently trading 21.76% below our prediction on Oct 27, 2024
  • Ethena gained 40.70% in the last month and is down -32.16% since 1 year ago
Ethena price$ 0.383267
Ethena prediction$ 0.489884 (29.62%)
SentimentBearish
Fear & Greed index70 (Greed)
Key support levels$ 0.376469, $ 0.361176, $ 0.333576
Key resistance levels$ 0.419362, $ 0.446962, $ 0.462255

ENA price is expected to rise by 29.62% in the next 5 days according to our Ethena price prediction

Ethena price today is trading at $ 0.383267 after losing -4.39% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -4.95% in the same time period. ENA performed poorly against BTC today and recorded a -4.08% loss against the world’s largest cryptocurrency.

According to our Ethena price prediction, ENA is expected to reach a price of $ 0.489884 by Oct 27, 2024. This would represent a 29.62% price increase for ENA in the next 5 days.

ENA Price Prediction Chart

Buy/Sell Ethena

What has been going on with Ethena in the last 30 days

Ethena has been displaying a positive trend recently, as the coin gained 40.70% in the last 30-days. The medium-term trend for Ethena has been bearish, with ENA dropping by -19.61% in the last 3 months. The long-term picture for Ethena has been negative, as ENA is currently displaying a -32.16% 1-year price change. On this day last year, ENA was trading at $ 0.564995.

Ethena reached its all-time high price on Apr 11, 2024, when the price of ENA peaked at $ 1.52. The current ENA cycle high is $ 0.461536, while the cycle low is at $ 0.196105. ENA has been displaying high volatility recently – the 1-month volatility of the coin is at 14.49. Ethena recorded 14 green days in the last 30 days.

Ethena technical analysis for today – Oct 22, 2024

The sentiment in the Ethena markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.376469, $ 0.361176 and $ 0.333576, while $ 0.419362, $ 0.446962 and $ 0.462255 are the key resistance levels.

Bearish sentiment for Ethena

11 indicators are currently signaling a bullish prediction for Ethena, while 13 indicators are showing a bearish forecast. With 54% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Ethena.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 70 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Ethena moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Ethena is positioned in the market right now.

PeriodDaily SimpleDaily ExponentialWeekly SimpleWeekly Exponential
MA3$ 0.400027 (SELL)$ 0.400743 (SELL)
MA5$ 0.405517 (SELL)$ 0.392926 (SELL)
MA10$ 0.372024 (BUY)$ 0.371033 (BUY)
MA21$ 0.342390 (BUY)$ 0.343478 (BUY)-$ 0.29 (BUY)$ 0.167211 (BUY)
MA50$ 0.291369 (BUY)$ 0.323034 (BUY)
MA100$ 0.325992 (BUY)$ 0.369737 (BUY)
MA200$ 0.566906 (SELL)$ 0.455837 (SELL)
PeriodValueAction
RSI (14)57.47NEUTRAL
Stoch RSI (14)94.65SELL
Stochastic Fast (14)66.01NEUTRAL
Commodity Channel Index (20)66.67NEUTRAL
Average Directional Index (14)41.25BUY
Awesome Oscillator (5, 34)0.07NEUTRAL
Momentum (10)0.05NEUTRAL
MACD (12, 26)0.00NEUTRAL
Williams Percent Range (14)-33.99NEUTRAL
Ultimate Oscillator (7, 14, 28)44.19NEUTRAL
VWMA (10)0.39SELL
Hull Moving Average (9)0.41SELL
Ichimoku Cloud B/L (9, 26, 52, 26)0.36NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Ethena is at 57.47, suggesting that ENA is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Ethena over the last 50 days. Currently, Ethena is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ENA closing price for the last 200 days. ENA is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Ethena prediction

After considering the above factors, we can conclude that the current forecast for Ethena price prediction is Bearish. ENA would have to increase by 29.62% to hit our $ 0.489884 target within the next five days. Moving forward, it will be important to monitor the ENA market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Ethena price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Source: https://coincodex.com/article/50589/ethena-prediction-october-22-2024/