MACD indicator also shows a bullish

An analyst, Jelle, Tweeted with the bullish sentiment on the X platform that In Ethena (ENA) a breakout has taken place out of a consolidation range on the daily chart. This could lead its price to run towards $1.50.

In a recent optimistic tweet by an analyst, it was observed that on the daily chart for the ENA asset, there has been a significant surge from the support level, and it currently remains above both the 20-day and 50-day EMAs.

Additionally, the MACD indicator also shows a bullish crossover, with a rising histogram at 0.0182 for ENA, and the RSI is at 57.59. These indicators suggest that Ethena's cryptocurrency is still gaining momentum and could potentially see further upward movement in the future.

If a strong breakout occurs, the next target for the price of ENA could be at levels such as $1.50 and $2.00. On the other hand, if the price declines, in this scenario, if the price of Ethena's cryptocurrency fails to maintain its position above the $0.90 level, it may experience further decline.