ENA Price Prediction:

Ethena price has broken above the $0.950 resistance level in the past 24 hours. However, its move above this threshold was short-lived as traders quickly booked profits. As a result, ENA is currently trading below the technical barrier.

If sellers continue to exert pressure on Ethena price, the cryptocurrency could face the risk of a correction to the next critical support level of $0.850. If traders continue to sell ENA after reaching this support level, the altcoin could drop to lows of $0.790 in the near term.

On the other hand, a close of two consecutive 4-hour candles above $0.950 in the next 24 hours could invalidate this bearish thesis. In this alternative scenario, bulls might find a good long opportunity in ENA.

This potential wave of long entry could push Ethena price higher in the next 48 hours. During this up move, ENA could also attempt to turn the $1.033 resistance level into support.

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