The cryptocurrency market remains unpredictable, with Bitcoin and Ethereum prices struggling to stabilize. This overview examines the latest price trends for Ethena and Artificial SuperIntelligance Alliance and their potential movements in the coming week.
Ethena (ENA) Price Analysis
The ENA price has completed a parabolic recovery and is undergoing a correction, indicating a potential cup & handle pattern.
The price tested local support at $0.52 and rebounded but has yet to validate any recovery that could occur once levels surpass and sustain above $0.61.
The RSI has begun to show bullish divergence, while volume has steadily increased since the beginning of July.
Therefore, Ethena's price may rise and reach the local resistance at $0.6974 if it continues to climb, but it may encounter strong bearish pressure before surpassing $0.7.
Conversely, if the bears continue to slash prices, it could enter the support zone near $0.45, attracting significant liquidity and pushing prices beyond $0.7, potentially leading towards $1.
Artificial SuperIntelligance Alliance (FET) Price Analysis
As seen in the chart, the FET price has broken the decisive symmetrical triangle and is heading towards local support at $0.571.
The supertrend indicator has turned bearish, while the RSI has almost reached the lower threshold, which may indicate a bearish continuation.
Meanwhile, the RSI is trying to rebound, but it remains to be seen whether it will form another lower high, which could be confirmed over the weekend.
Thus, the FET price needs to rise into the symmetrical triangle and clear the resistance at $0.82, which could place the token at the apex of consolidation.
Therefore, a breakout from these levels may help the price clear the key resistance at $1 and a sustained rally may help the FET price remain elevated.
General Conclusions and Forecasts
In the context of uncertainty in the cryptocurrency market, the price analysis of Ethena and FET shows that both altcoins are under pressure but display signs of potential recovery. It is expected that the actions of bears and bulls will dictate price movements in the coming days.
Considering the current market conditions, monitoring the price behavior of Ethena and FET will be essential to understanding further trends in the cryptocurrency market. Investors should closely track support and resistance levels that may impact price movements.
