{"id":622995,"date":"2025-01-31T07:51:20","date_gmt":"2025-01-31T07:51:20","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=622995"},"modified":"2025-01-31T07:51:20","modified_gmt":"2025-01-31T07:51:20","slug":"ethena-price-prediction-ena-jumps-2-but-investors-flock-to-this-65-million-pepe-derivative-presale-before-it-sells-out","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ethena-price-prediction-ena-jumps-2-but-investors-flock-to-this-65-million-pepe-derivative-presale-before-it-sells-out","title":{"rendered":"Ethena Price Prediction: ENA Jumps 2%, But Investors Flock To This $65 Million PEPE Derivative Presale Before It Sells Out"},"content":{"rendered":"

The Ethena price jumped 2% in the last 24 hours to trade at $0.7296 as of 11:58 p.m. EST on trading volume that surged 8% to $424 million.<\/span><\/p>\n

Ethena Price Aims For A Recovery<\/b><\/h2>\n

The <\/span>ENA price<\/span><\/a> chart on the 3-day shows a rounding bottom pattern formation, a classic technical pattern that signifies accumulation and potential continuation of an upward trend.<\/span><\/p>\n

After experiencing a steep decline from its peak in June 2024, the Ethena price found a base around the $0.19 support in September and gradually formed a rounded bottom, according to <\/span>GeckoTerminal<\/span><\/a> data.<\/span><\/p>\n

This accumulation phase was followed by a strong rally, completing the pattern. The Ethena price then pulled back slightly.<\/span><\/p>\n

Currently, the price of ENA is testing the support level near $0.637, a region that previously acted as resistance before the breakout. This level is crucial—if it holds, it could confirm a cup and handle the pattern’s bullish continuation. However, a breakdown below this level could invalidate the setup and lead to further declines.<\/span><\/p>\n

The 50-day Simple Moving Average (SMA) is sitting around $0.6371, indicating that the price of Ethena is still trading above this key level. This suggests that the short-term trend remains positive, though price action is currently experiencing a correction.<\/span><\/p>\n

Meanwhile, the Relative Strength Index (RSI) is at 45.72, which places it in a neutral zone. This reading suggests that the asset is neither overbought nor oversold. However, RSI has been declining from previous highs, indicating a cooldown in bullish momentum.<\/span><\/p>\n

\"Ethena
ENA\/USDT Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

ENA Price Prediction<\/b><\/h2>\n

Given the current technical setup, ENA is at a critical juncture. If buyers step in and the current support is around $0.64, we could see a bounce back towards the recent highs near $1.27. <\/span><\/p>\n

This surge could complete a possible cup and handle pattern, therefore pushing the price of Ethena higher.<\/span><\/p>\n

A failure to hold support at $0.70 could lead to a deeper correction below the 50-day SMA, with the next possible cushion against downward pressure around $0.60.<\/span><\/p>\n

As the ENA price jumps, investors are also piling into a Pepe alternative in presale that’s called <\/span>Wall Street Pepe (WEPE)<\/span><\/a>. 99Bitcoins, a popular YouTube channel with over 724k subscribers, says WEPE could be the next 100X meme coin.<\/span><\/p>\n