ENA Price Rallies 11% With Strong Momentum—What’s Next?
Ethena (ENA) price surged over 11% in the past 24 hours, bringing its market capitalization to $3.5 billion.
The rally has been supported by strong technical indicators, including the recent Golden Cross and a sharp rise in Chai Jin Money Flow (CMF) to 0.36, indicating increasing buying pressure.
ENA CMF reaches highest level since November
Cai Jin Capital Flow (CMF) athena It is currently at 0.36, a significant improvement from nearly 0 two days ago. The sharp rise reflects a sharp improvement in capital inflows, suggesting that buying pressure has intensified in the near term.
CMF is a momentum indicator that measures the flow of money in and out of an asset based on price and volume. Values above 0 indicate net buying pressure, and values below 0 indicate net selling pressure.
ENA’s CMF is 0.36, showing strong positive momentum, indicating that investors are actively accumulating the token. This may indicate growing confidence athena Potential for price increases, as increased capital inflows tend to support price increases.
If CMF maintains its upward trajectory, Aisne story If buying pressure continues to outpace sales activity, continued growth could be experienced in the short term. However, any decline in CMF could signal a loss of momentum, potentially leading to a consolidation or pullback.
Ethena DMI shows strong uptrend
athena The DMI chart shows that its ADX has surged to 25.6, a sharp increase from 9.9 two days ago, indicating a strong increase in trend strength. ADX (Average Directional Index) measures the strength of a trend on a scale from 0 to 100.
A reading above 25 indicates a strong trend, while a reading below 20 indicates weakness or lack of momentum. ADX is now firmly above the 25 threshold, confirming Aisne story is experiencing a strong trend, consistent with its current uptrend.
Directional indicators further highlight the dominance of bullish momentum. +DI has risen sharply to 42.1, reflecting strong buying pressure, while -DI remains at a much lower 9.9, indicating minimal selling activity. This configuration shows that buyers have a firm grip on prices and are driving prices higher.
In the short term, these DMI readings suggest that ENA’s upward trend may continue. However, continued gains will depend on ADX maintaining its upward trajectory and +DI maintaining dominance relative to -DI.
ENA Price Prediction: Will Ethena Rise 13.7% Next?
ENA’s EMA line recently formed a golden cross, which is a bullish signal that occurs when the short-term moving average is above the long-term moving average. This development suggests that price action may turn to a sustained upward trend.
If the current upward trend continues, Aisne story A test of the $1.22 resistance is likely. A break above this level could push the price towards $1.32, a potential gain of 13.7%.
However, if the uptrend falters and bearish momentum takes over, support at $1.12 will be crucial to prevent further declines.
A break below this level could trigger additional selling pressure, pushing Aisne story down to $1.02. If the $1 level fails to provide sufficient support, the price could fall further to $0.84, signaling a major correction.
Disclaimer
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