{"id":293078,"date":"2024-04-30T23:50:05","date_gmt":"2024-04-30T18:20:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/ethena-price-caught-in-wedge-pattern-sets-renewed-recovery-beyond-1-crypto-news\/"},"modified":"2024-04-30T23:50:09","modified_gmt":"2024-04-30T18:20:09","slug":"ethena-price-caught-in-wedge-pattern-sets-renewed-recovery-beyond-1-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethena-price-caught-in-wedge-pattern-sets-renewed-recovery-beyond-1-crypto-news\/","title":{"rendered":"Ethena Price Caught in Wedge Pattern Sets Renewed Recovery Beyond $1 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Amid the post-halving volatility in Bitcoin, the altcoin market has showcased a consolidating trend with a slight bearish tone. ENA, the token of decentralized finance (DeFi) protocol <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/what-is-ethena-finance\/\">Ethena<\/a>, is reflecting this downswing by resonating within two downsloping trendlines of falling wedge patterns. However, this pattern is known for indicating the maturity of a downtrend indicating a potential reversal in ENA price.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/crypto-price-prediction-30-4-btc-slips-61k-doge-ada-6\/\">Crypto Price Prediction 30\/4: BTC Slips to $61K, DOGE and ADA Down 6%<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><b>Is Ethena Price Ready to Hit $1?<\/b><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/d\/dtsrhl6L.png\" alt=\"BINANCE:ENAUSDT Chart \" width=\"1946\" height=\"893\"\/><\/noscript><figcaption class=\"wp-caption-text\">Ethena Price| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The ENA token, introduced on April 2nd at an initial price of $0.64, quickly captured the interest of the cryptocurrency community. This led to a remarkable increase in its value by 136%, reaching a peak of $1.523 by April 11th, marking its all-time high.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the coin price witnessed a notable downswing from the aforementioned high to $0.8 within three weeks to register a 48% loss. An analysis of the daily chart shows the formation of a falling wedge pattern has prevented a major correction and maintained the asset sustainability above $0.775.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">If the pattern holds true, the Ethena coin price showed a breach of the overhead trendline signaling an early sign of trend reversal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the Coinbase International Exchange, a significant player in the global cryptocurrency market, has announced supporting several new perpetual futures, including Ethena (ENA-PERP). This move is scheduled to commence on or after 9:30 AM UTC on May 2, 2024, marking a significant expansion in the trading options available for Ethena alongside other tokens like AEVO and Etherfi.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CoinbaseIntExch?ref_src=twsrc%5Etfw\">@CoinbaseIntExch<\/a> will add support for Aevo, Ethena, and Etherfi perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our AEVO-PERP, ENA-PERP, and ETHFI-PERP markets will begin on or after 9:30am UTC on 2 MAY 2024. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/41tyomtH0I\">pic.twitter.com\/41tyomtH0I<\/a><\/p>\n<p>\u2014 Coinbase International Exchange \ud83d\udee1\ufe0f (@CoinbaseIntExch) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CoinbaseIntExch\/status\/1783526225853534342?ref_src=twsrc%5Etfw\">April 25, 2024<\/a><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">This listing could boost investor confidence in Ethena, as perpetual futures provide a means to hedge against price volatility or gain exposure to ENA without owning the token directly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The positive development will bolster the wedge pattern breakout to chase potential targets of $1.2 and $1.52.<\/span><\/p>\n<h2><b>Technical Indicator\u00a0<\/b><\/h2>\n<ul>\n<li><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">A negative crossover state between the 5, 13, and 26 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> of daily indicates the correction trend is still in action.<\/span><\/li>\n<li><b>Relative Strength Index: <\/b><span style=\"font-weight: 400;\">A notable bullish divergence in the 4-hour chart RSI indicates increasing buying activity among market participants.<\/span><\/li>\n<\/ul>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/ethena-price-in-wedge-pattern-recovery-1\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/ethena-price-in-wedge-pattern-recovery-1\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA194515\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. 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Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD194515\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. 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has showcased a consolidating trend with a slight bearish tone. ENA, the token of decentralized finance (DeFi) protocol Ethena, is reflecting this downswing by resonating within two downsloping trendlines of falling wedge patterns. However, this pattern is known for indicating the maturity of a downtrend indicating [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":279542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-293078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=293078"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293078\/revisions"}],"predecessor-version":[{"id":293079,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293078\/revisions\/293079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/279542"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=293078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=293078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=293078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}