Ethena Skyrockets: Bullish Breakout Fueled by Bitget Wallet Collab

Ethena (ENA) has recently experienced a bullish breakout due to a collaboration with Bitget Wallet, allowing users to interact with Ethena through Bitget's platforms. The surge in ENA price is expected to continue, as the breakout suggests a bullish trend. In the short term, the price is likely to maintain an ascending consolidation and reach a resistance zone between $1.19 and $1.2 by the end of the week.

Ethena (ENA) Skyrockets on Bullish Breakout, Fueled by Bitget Wallet Collaboration

In a significant development that has sent shockwaves through the cryptocurrency market, Ethena (ENA), an Ethereum-based synthetic dollar protocol, has witnessed a remarkable bullish breakout, surging past key resistance levels. This surge is widely attributed to the much-anticipated collaboration between Ethena and Bitget Wallet.

This groundbreaking partnership empowers users to seamlessly interact with Ethena through Bitget's intuitive wallet browser extension and mobile application. As an added incentive, users who deposit at least 100 USDT on Ethena will be generously rewarded with an airdrop of BWB points.

Technical Analysis Paints a Bullish Picture for ENA

Short-term technical analysis paints a compelling bullish picture for ENA. The price has decisively broken out of a bearish pattern, piercing through a descending trend line. The Relative Strength Index (RSI) has soared to average levels, indicating a strong momentum behind the rally.

In the coming days, analysts predict that ENA's price will maintain an ascending consolidation pattern. By the end of the week, it is anticipated to reach a crucial resistance zone between $1.19 and $1.2. This bullish sentiment is further amplified by the positive development of the collaboration with Bitget Wallet.

THORChain (RUNE) Breaks out of Bearish Slump, Signaling a Bullish Turnaround

THORChain (RUNE), a leading decentralized liquidity protocol, has emerged from a protracted bearish trend that has lasted over a year. Remarkably, the price has surged from lows around $0.8 to mark highs above $10 in the last quarter of 2023.

This impressive rally has signaled a significant bullish turnaround, as bulls are determined to establish a foothold above crucial support levels and propel the price within a bullish range. The technical outlook for RUNE is particularly promising.

Technical Analysis Underscores the Bullish Momentum

As illustrated by the accompanying chart, RUNE is trading within a rising, expanding channel. A recent dip below support was met with strong bullish volume, suggesting that the trend is likely to remain positive in the near term.

The RSI divergence also provides a bullish signal, indicating that the uptrend is poised to continue. As a result, analysts expect RUNE to reclaim lost ground within the bullish range and secure levels within the key resistance zone above $7.