The post Will Macro Risks Disrupt the Current Ethena Price Setup? appeared first on Coinpedia Fintech News
The Ethena price has returned to a critical zone this mid-december that previously marked the start of a powerful rally in 2024. While the current short-term price action can’t be ignored as it remains strongly subdued by macro sentiment. But, a combination of technical positioning and improving on-chain metrics is drawing renewed attention to Ethena crypto amid an uncertain macro backdrop.
Ethena Price Revisits a Historically Reactive Level
In September 2024, ENA/USD traded near the $0.20 level before launching into a strong upside move that carried the token to roughly $1.20 by December, representing a 525% advance. This week, the Ethena price USD is once again hovering near that same demand area.
On the Ethena price chart, the structure appears similar to the setup seen before the previous rally. Although past performance does not guarantee another repetition of
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