Cryptocurrencies Price Prediction: Ethena, Crypto & Bitcoin – European Wrap 9 October
|Ethena Price Forecast: ENA eyes wedge breakout on renewed retail interest
Ethena (ENA) edges lower at the time of writing on Thursday, retracing from the daily high of $0.5788, and holding above the $0.5500 mark after a near 6% gain the previous day. The synthetic dollar token built on Ethereum could break out of a falling wedge pattern, as derivative and on-chain data indicate an increase in interest from retail investors.
Crypto Today: Bitcoin, Ethereum, XRP retreat amid profit-taking, risk-off sentiment
Bitcoin (BTC) is facing headwinds, correcting lower to nearly the $121,000 mark on Thursday, as prices in the broader cryptocurrency market generally retreat. Ethereum (ETH) and Ripple (XRP) are also in the red, trimming gains accrued during the previous day’s knee-jerk recovery.
Another three-week pullback for Bitcoin after reaching new highs?
The crypto market cap has fallen by 0.5% over the past 24 hours to $4.14 trillion. This is a pullback to levels that acted as resistance in August and September. Altcoins are having a tough time, as pressure on them has intensified against the background of Bitcoin's slump. Once again, we are reminded that cryptocurrencies can be the first to react to fluctuations in risk appetite, and the current sluggishness may be the first sign that players have had their fill of risk.
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