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The Ethena price has soared 14% in the last 24 hours to trade at $0.3442 as of 7:06 a.m. EST on a 110% surge in its daily trading volume to $294 million.
ENA price action is giving major recovery signs. But is the momentum strong enough to break through the barrier ahead?
Ethena Price Bullish Signals Emerge As Bulls Target Break Above Key Resistance
The 1-day ENA/USD chart shows early in the period, ENA has been grinding back up after taking a brutal hit late May following a break down from a descending triangle pattern. Nevertheless, this recent 14% pump has ENA sitting at $0.3458 as depicted on the chart.
The chart also shows a key support-turned-resistance around $0.3617 (0.5 Fib level) and support at $0.25. If the ENA price can break that $0.361 resistance, investors might see it re-enter the descending triangle pattern and test $0.386 soon.
The indicators are also giving some promising signals. The Relative Strength Index (RSI) is at 48.35, which is neutral but leaning toward bullish territory. This shows there is room to grow without being overbought.
ENAUSD Analysis Source: Tradingview
The Moving Average Convergence Divergence (MACD) is showing a potential bullish crossover with the histogram flipping positive. This is a sign that momentum is shifting, and the bulls might keep running this up.
Plus, the 50-day SMA is sloping downward at $0.34220, acting as a dynamic resistance. If ENA can close above this, it is a big win for the bulls.
ENA Price Short-Term Rally In Sight, But Bears Could Test Key Support
If the market stays bullish, ENA may go on a short-term rally, targeting $0.4647, matching the chart’s previous high. Beyond that, it may soar higher to $0.5919, which marks a 70.71% increase from here.
However, if the bears come back and ENA gets rejected at the 0.5 Fib level, it may dip back to the $0.3029 local support. If bears sustain pressure, ENA might see it slide lower to $0.25 again, which marks the yearly low.
In the long term, if ENA keeps this momentum, it could hit the 161.8% Fib extension level by the end of June, especially if Bitcoin keeps pumping and altcoins catch fire.
Last Chance To Buy Solaxy Presale As It Closes On $44M
As the Ethena price prepares to break through a key resistance, Solana’s woes associated with network congestion are coming to an end with Solaxy (SOLX), a game-changing layer-2 (L2) project that has raised over $43.6 million in its soon-to-end presale.
The Solana network is great, but when things get busy, like during a meme coin frenzy, the network can hit a wall, slowing down or even stalling.
Solaxy sorts this out by processing transactions off Solana’s main chain, bundling them up, and sending them back for final approval. This keeps things fast and cheap, even when traffic is at an all-time high. It’s a trick Ethereum’s layer-2s like Arbitrum and Optimism have nailed, and now Solaxy’s bringing it to Solana.
🚨 Hey Solaxy Community it’s here.
The Solaxy Testnet is LIVE. Your first chance to interact with Solana’s first Layer 2 and experience the speed, scale, and simplicity Solaxy brings. 🔥⚡️
🔗 Connect via Backpack Wallet:https://t.co/FBrV3FohC8
You can:
– Bridge SOL (Solana… pic.twitter.com/FQY9AIwSdx— SOLAXY (@SOLAXYTOKEN) June 2, 2025
Solaxy stands out due to its cross-chain magic. It bridges Solana with Ethereum, letting developers tap into Ethereum’s massive liquidity while keeping Solana’s speed. This could be huge for DeFi apps, NFT projects, and blockchain games.
Additionally, Solaxy’s already got a working testnet and a block explorer, showing it’s not just talk, the team’s delivering. They have also launched the Igniter Protocol, a no-code tool for SOLX holders to create and launch their own tokens, making Solaxy a hub for innovation.
Accordingly, a crypto analyst on the 99Bitcoins YouTube channel, which has over 723K subscribers, has called SOLX a potential 100x gem.
Buy SOLX Tokens Now – Presale Ends In 13 Days
Investors are jumping in fast. The presale price sits at a dirt cheap $0.001744 per token with big players like whales throwing in serious cash.
You can buy SOLX with ETH, USDT, BNB, or even a credit card on the project’s website. Early birds also get a sweet deal, where they stake their tokens for a whopping 93% annual yield (APY).
But time’s ticking, the presale ends in about 13 days, and prices are set to climb when SOLX lists on top exchanges.
Head to the Solaxy website to learn more.
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