Ethena (ENAUSD) Price Forecast: August 14
Ethena pair shows potential for future growth as it remains strong above the supply trend levels with the bullish sentiment fueled by the ionic upgrade and market sentiment. The crypto has been in a bullish rally in the previous action, and from its appearance, it will keep growing. Hence, a further increase in the bulls’ action may trigger the coin price up and break out the previous high at the $0.513 mark, extending the price action to reach the $0.700 resistance and bolstering a prolonged recovery.
Key Levels:
Resistance Levels: $0.300, $0.350, $0.400
Support Levels: $0.250, $0.200, $0.150
ENA (USD) Long-term Trend: Bullish (4H Chart)
The long-term market value of Ethena remains strong above the supply levels, showing potential for future growth. The crypto is moving in a bullish direction above the moving average line as can be seen from the chart below, indicating a bullish scenario. 
The bulls’ pressure to a $0.325 resistance level in the last session has made the ENAUSD price remain above the supply trend line in its recent high.
At the press time today, the Ethena price remains strong above the supply value at $0.344 as the 4-hourly chart opens, suggesting a bullish influence on the crypto.
This breakup may accelerate the bullish momentum and extend the ongoing correction to a higher level at the overhead resistance if further bearish thesis remains unmoved.
Notably, the coin remains in an uptrend on the daily signal, implying that the ENAUSD price may continue to increase as it remains strong above the supply trend line due to the activities of the coin investors. In this case, the price of Ethena could jump to hit the $0.700 supply mark sooner in its long-term outlook.
ENA (USD) Short-term Trend: Bullish (1H Chart)
The Ethena price can be seen progressing upward and remains strong above the supply levels with a bullish sentiment in its short-term outlook. 
The sustained bullish pressure at the $0.296 level during the past session has made it possible for the buy investors to retain the ENAUSD price above the supply trend levels in recent times.
Today, the coin price finds a reliable resistance and remains strong above the supply levels at $0.318 as the 1-hourly session begins, resulting in intraday gains.
A strong push by the long traders above the current resistance point with a 1-hour candle closing could signify a shift in the market dynamics.
In addition, the daily signal is pointing upwards; if the buy traders should increase their price action and bullish momentum is sustained, the Ethena price may likely pump up to a significant level at a $0.335 value and beyond in the upside before the close of today, signaling a BUY trade again, as it remains above the supply trend line in its lower time frame.
Buy Ethena on Longhornfx
Leave a Reply