Amid cross-border market correction, top crypto tokens have recorded a notable correction over the past day. However, the Ethena price has recorded a strong bullish recovery by adding significant valuation to its portfolio over the past few hours.

With the current market sentiments, is Ethena the best crypto coin to buy right now? Scroll down as, in this article, we have covered the price analysis and possible short-term price targets for the ENA crypto token.

Ethena Price Records Increased Price Action:

After trading under a bearish sentiment for a brief period and recording a correction of 12.73% within the past 30 days, the ENA price has regained momentum. It has added 11.01% to its portfolio within the past day with a trading volume of $140.25 Million, a change of +91.52%.

With the current trading price of $0.487, a circulating supply of 1,710,937,500 ENA, and a total supply of 15 Billion ENA tokens, the Ethena crypto has secured the 84th position with a market capitalization of $846.25 Million.

The Simple Moving Average (SMA) is on the verge of recording a bullish convergence in the 1D time frame, suggesting increased buying-over-selling pressure for the altcoin in the crypto space.

Further, the RSI indicator has successfully regained momentum and has displayed a sharp rise toward its mid-point. This highlights a strong bullish outlook for the ENA coin price in the coming time.

Will ENA Price Surge To $1?

If the market regains momentum, the Ethena price will reach its resistance level of $0.60. Furthermore, if the bulls continue to dominate the market, the ENA price will prepare to test its upper resistance level of $0.825.

However, if the bears overpowered the bulls, the Ethena price will plunge toward its crucial support level of $0.375 during the upcoming weeks.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed