Ethena price explodes 17% on breakout – is $0.70 next?

Ethena has torn off more than 17% in the last 24 hours, leaving a long -standing corner model and triggering a bullish momentum that could send prices to $ 0.70.

It is (This one) has increased by more than 17% in the last 24 hours, currently negotiating at $ 0.34. Today’s push intervened Tuesday after a clear escape from a falling corner model for a long time, with a sparkle marked Marubozu pierce the higher trend line and pushing the price above the 20-day EMA. Today’s candle also calls into question the 50 -day SMA, indicating a change in the momentum in the medium term.

This escape is supported by Momentum indicators, the RSI climbing at 55.84 and the MacD printing a bull crossing with the MacD line rising above the signal line and a green histogram starting to form.

The ATR shows low volatility, which often precedes large movements because volatility tends to develop after compression, which means that the break is likely to print more legs.

Ethena’s push arrives in the middle of a wider market rebound, with Bitcoin (BTC)) Close to $ 95,000 and Ethereum (Ethn)) pour towards $ 1,800 like trade war cool concerns.

For the future, the first major resistance is around $ 0.45 – a key level in which ENA was rejected several times in February and March, and which is also aligning itself on the upper limit of the local fall.

A more aggressive short -term objective, based on the measured movement in the area, points to a beach from $ 0.70 to $ 0.72.

The upward prospects would be invalidated if ENA does not hold above the level of $ 0.30 where the break has occurred. If this happens alongside the RSI falling below 50 and a low -cut MacD cross, the downward trend is likely to resume.