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The price of Ethen was collapsed by 57% of its highest level in December as the mood in the crypto industry.
Deli Ethena (Ena) mirrors most Altcoin. For example, Ethereum fell over 32% of his December from his December top, while Cardano fell by 45%.
Despite the liquid token, the accident of the Ethenana network still works well. The total value locked in the network or service-strecoin market, aligned to more than 6.12 billion dollars, approaching its all over $ 6.2 billion.
The USDA has now become the fourth largest stem in the industry, placing only a branch, coin and USD. Its 427,000 holders generate an annual refund of approximately 10%, generated from arbitration options within the network.
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Ethena technical materials indicate return
Ena Price price Source: CRYPTO.NEWS
The daily chart shows that the Ena has formed a double upper sample at $ 1,3065 between December and January. This pattern is characterized by two tops and décolles, at $ 0.8470 in this case, explains why Ena dived in almost 60% of its highest level.
Ethena also fell below the 50-day movement average, signaling which bears remain controlled. However, on the positive side of Ena, it is slowly forming a form for the crash. The upper limit of this form connects the most swings from January, while the lower tress displays the lowest points from December.
With two lines that provide their level of mouth, a bull’s break can be immediate. A strong breakthrough could push the price greater, potentially re-test the double level to $ 1.3066, about 130% above the current price.
Bullish Outlook additionally support oscillators approaching the levels that overcrowded. The relative power index (RSI) fell to 35 and is approaching the threshold for overcrowded key from 30.
Historical, property usually recovers after reaching the load. However, a decrease below key support at $ 0.4425, which represents the lower border of the wedge, would undo this Bikovski scenario.
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