The post Ethena Price Jumps 19% Overnight: Is $0.50 Breakout Next? appeared on BitcoinEthereumNews.com.

With the recovery rally in altcoins, the total crypto market cap, excluding Bitcoin and Ethereum, has reached $865 billion. With the altcoin market aiming to reclaim the $1 trillion mark, Ethena is on a recovery run.  In the past 24 hours, the ENA token has surged by nearly 20%. Will this recovery run in Ethena result in a bullish turnaround? Let’s find out.  Ethena Price Recovery Hits $0.40 In the daily price chart, the ENA price trend reveals a bullish comeback with a massive bullish engulfing candle. The ENA price has jumped 19% today to reach the $0.40 market price.  With this recovery run, the ENA price is challenging the 38.20% Fibonacci level at $0.4087. Furthermore, the quick turnaround prolongs the positive trend in the MACD and signal lines.  The bullish spike comes within a prevailing downfall that has accounted for a 72% drop. This prevailing downfall also resulted in a bearish crossover in the 100-200-day EMA lines. Thus, the 20-, 50-, 100-, and 200-day EMA lines maintain a negative alignment.  Analyst Shares Buying Opportunity in Ethena Supporting the chances of a bullish turnaround, Ali Martinez, a crypto analyst, has highlighted a buy signal for Ethereum. Based on his recent tweet, the TD Sequential Indicator has flashed a buy signal for Ethereum on the weekly chart.  #Ethena $ENA could be primed for a rebound as the TD Sequential indicator flashes a buy signal on the weekly chart, signaling potential upward momentum! pic.twitter.com/oOQu4fDeEb — Ali (@ali_charts) March 6, 2025 This highlights the possibility of a new upward momentum in the ENA price trend. With the bullish turnaround, the ENA price could reclaim the $0.50 psychological mark in the next week. Ethena Labs To Unlock 2.07B ENA Despite the bullish signals, Ethena Labs has made a significant transaction in the past 24…

---

Filed under: News - @ March 6, 2025 12:25 pm