Golden-Cross Tease: Ethena Eyes $0.60 If Coinbase Turns Road-Map Into Reality
The post Golden-Cross Tease: Ethena Eyes $0.60 If Coinbase Turns Road-Map Into Reality appeared on BitcoinEthereumNews.com. Ethena (ENA) has struggled with price recovery over the last few months, facing a lack of demand that has resulted in a flat trajectory for the altcoin. However, the recent inclusion of ENA on the Coinbase roadmap could signal a shift in market sentiment. While its listing on Coinbase is not yet guaranteed, the consideration by a major exchange could spark renewed interest and potentially ignite a price surge. Ethena Needs To Breach This Barrier Ethena’s inclusion on the Coinbase roadmap is a positive development, but it does not guarantee an immediate listing. ENA continues to face challenges due to a lack of investor confidence. According to the GIOM (Global In/Out of the Money) data, there is a significant supply zone between $0.356 and $0.375, where over 6.29 billion ENA were bought. This range represents a critical resistance point, as holders in this zone may look to sell at their cost basis, particularly if the price approaches these levels. Should this happen, it could result in significant downward pressure on ENA’s price. ENA GIOM. Source: IntoTheBlock The broader macro momentum of Ethena shows that long-term holders (LTHs) are still holding onto their ENA, signaling a belief in the altcoin’s future price recovery. The uptick in the MCA (Market Capitalization Accumulation) indicator suggests that LTHs are not rushing to sell their assets but instead are holding in anticipation of future price increases. The reluctance of LTHs to sell their holdings provides some stability for ENA in the current market, especially as they continue to hold their positions despite recent challenges. This creates a buffer for the price, as LTHs’ ongoing support could provide a base for the altcoin to build upon in the event of a recovery. ENA MCA. Source: Santiment ENA Price Could See Surge Currently trading at $0.33, Ethena has experienced…
The post Golden-Cross Tease: Ethena Eyes $0.60 If Coinbase Turns Road-Map Into Reality appeared on BitcoinEthereumNews.com.
Ethena (ENA) has struggled with price recovery over the last few months, facing a lack of demand that has resulted in a flat trajectory for the altcoin. However, the recent inclusion of ENA on the Coinbase roadmap could signal a shift in market sentiment. While its listing on Coinbase is not yet guaranteed, the consideration by a major exchange could spark renewed interest and potentially ignite a price surge. Ethena Needs To Breach This Barrier Ethena’s inclusion on the Coinbase roadmap is a positive development, but it does not guarantee an immediate listing. ENA continues to face challenges due to a lack of investor confidence. According to the GIOM (Global In/Out of the Money) data, there is a significant supply zone between $0.356 and $0.375, where over 6.29 billion ENA were bought. This range represents a critical resistance point, as holders in this zone may look to sell at their cost basis, particularly if the price approaches these levels. Should this happen, it could result in significant downward pressure on ENA’s price. ENA GIOM. Source: IntoTheBlock The broader macro momentum of Ethena shows that long-term holders (LTHs) are still holding onto their ENA, signaling a belief in the altcoin’s future price recovery. The uptick in the MCA (Market Capitalization Accumulation) indicator suggests that LTHs are not rushing to sell their assets but instead are holding in anticipation of future price increases. The reluctance of LTHs to sell their holdings provides some stability for ENA in the current market, especially as they continue to hold their positions despite recent challenges. This creates a buffer for the price, as LTHs’ ongoing support could provide a base for the altcoin to build upon in the event of a recovery. ENA MCA. Source: Santiment ENA Price Could See Surge Currently trading at $0.33, Ethena has experienced…
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