Ethena (ENA) Price Prediction 2023: Promising Alternative To Ethena

The Ethena price dropped 6% in the last 24 hours to trade at $0.5593 as of 2:00 a.m. EST on trading volume that plummeted 34% to $278.07 million.

The price of Ethena (ENA) dropped 6% in the last 24 hours to trade at $0.5593 by 2:00 a.m. EST on trading volume that fell 34% to $278.07 million.

The ENA price is now down 23% in the past seven days, having initially tried to breach a resistance at $0.80 last Thursday and Friday, only to then plummet to around $0.55 as the US kicked off a trade war. The price then recovered to $0.70 on Monday, but the resistance rejected it, and it has been spiraling down ever since.

Ethena Price Prediction

Having spent most of this week slowly descending, Ethena’s Bollinger Bands typically remained quite narrow other than short periods when another support would break, sending it further down. The price mostly fluctuated between the lower band and the middle line between the two bands over the last two days, only to then rise above the middle line before the support would break, and another widening followed, marking yet another drop.

In fact, this pattern has been repeated two times already, and ENA is currently in the middle of it again. After spending nearly 12 hours with narrow bands and the price between the lower band and the middle line, the Ethena price just pushed up to the upper band again. If the pattern holds, the token will soon see another sharp dip and drop even further.

Its Relative Strength Index (RSI) is seeing a similar pattern, where it fluctuated between the oversold zone and the neutral value of 50, but each time when it attempted to breach 50 and venture further up, the move was followed by a sharp decline back to the start of the oversold zone, at the value of 30.

This suggests that as soon as traders started buying a bit more and the token’s price started to grow, they would immediately take profits. By overselling it, they would push the token’s price further down. Based on the current RSI performance, the same seems to have already started happening again.

Promising Alternative To Ethena

With the Ethena price likely to see another sharp dip, traders might want to turn to a more promising cryptocurrency, like Wall Street Pepe (WEPE). This is the newest Pepe-based meme coin that is currently still in its ICO phase, but is only days away from concluding its presale.

Technically speaking, the project’s presale is scheduled to end in 10 days from now, on Feb. 16. However, given that the ICO has raised over $70 million, and its hard cap is at $72 million, there is only $2 million worth of WEPE tokens left before the ICO is officially sold out.

The presale is raising roughly $1 million per day, meaning that it is likely to sell all of the tokens available during its presale by Sunday, or Monday at the latest. In other words, if you wish to buy WEPE, and to get it at ICO prices before its value potentially soars, you likely only have two more days to do so.

The reason why you might want to buy the meme coin is the fact that WEPE is creating its own private insider group or retail traders. Within it, you will have access to expert trading advice, the best technical indicators and trading signals, investment recommendations, and more. The only way to join this group is by buying WEPE. So, if you have to do it anyway to access the group, the best time to do it is while its price is low, sitting at only $0.0003665.

Given the demand, experts are extremely optimistic about this presale, and ClayBro, a popular crypto YouTuber with over 136k subscribers, who previously pointed out numerous highly successful ICOs, believes that WEPE could have at least 10x potential.

Buy WEPE here before its presale sells out.