The post ENA Price Declines 18% Amid Death Cross Warning Signs appeared on BitcoinEthereumNews.com.

Ethena (ENA) price has dropped 18% in the last 24 hours, pushing its market cap below $3 billion. Despite this decline, ENA remains one of the top 50 largest cryptos by market cap. Indicators like RSI and CMF reflect bearish sentiment but also hint at a possible rebound if conditions improve. Traders are closely watching key support levels at $0.89 and resistance levels at $1.01 for ENA’s next move. Ethena RSI Is At Its Lowest Level In 5 Months Ethena Relative Strength Index (RSI) has fallen to 26.4, marking its lowest level since August 2024. RSI is a momentum indicator that evaluates the speed and magnitude of price movements on a scale from 0 to 100. Readings above 70 indicate overbought conditions and potential for price corrections, while values below 30 suggest oversold conditions and the possibility of a price recovery. The sharp drop from 79.9 on January 3 to its current level reflects a significant shift in market sentiment, with heavy selling pressure dominating over the past five days. ENA RSI. Source: TradingView At 26.4, ENA RSI is now firmly in oversold territory, signaling that the recent sell-off may have been overdone. This could create conditions for a price rebound if buying interest returns to the market. However, the bearish momentum driving the RSI lower also indicates weak investor confidence, suggesting that ENA’s price might remain under pressure in the short term. ENA CMF Is Recovering from Yesterday’s Lows Ethena Chaikin Money Flow (CMF) is currently at -0.19, showing a slight recovery from yesterday’s low of -0.25. CMF is a technical indicator that measures the flow of capital into or out of an asset based on price and volume over a specified period. Positive CMF values indicate net buying pressure, signaling potential bullish momentum, while negative values reflect net…

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Filed under: News - @ January 9, 2025 1:20 am