Convert 50 ENA to USD today

Over the past day, Ethena (ENA) surged by 6.67%, moving from a low of 0.25 USD to a current price of 0.3342 USD. The altcoin also showed an 8.04% weekly gain.

Analysts highlight a shift in market sentiment and strong upward momentum, with negative Netflow indicating increased buyer activity. The ongoing bullish outlook is supported by rising futures buy volume.

If favorable conditions persist, ENA may break out from the inverse head and shoulders pattern, targeting a price of 0.39 USD. Conversely, failure to maintain the upward trend could see a pullback to 0.30 USD.

Ethena’s ENA token plummeted 16% to 0.3012 USD following bearish market sentiment and an impending token unlock.

With trading volume surging to 301.81 million USD, the total market cap dropped to 1.62 billion USD, reflecting increased trader activity ahead of the April 5 token release.

Ethena’s ENA token will unlock 7.93 million tokens shortly, valued around 3.29 billion USD.

The price of ENA has increased by 4.66% recently, currently trading at 0.4170 USD. Market capitalization has reached 2.2 billion USD.

25% of ENA is held by private investors, while team members and advisors possess 30% of the total supply, with more significant unlock events ahead.

ENA is currently valued at 0.3583 USD, with a market capitalization of 1.89 billion USD. It faces crucial support at 0.35 USD and resistance at 0.47 USD, essential for its breakout prospects.

Despite recent optimism, on-chain signals present challenges for ENA, with rising open interest reflecting more liquidations in long positions than shorts. This condition indicates potential downward pressure on the altcoin’s price.