NEO/U.S.dollar(NEOUSD) Elliott Wave Technical Analysis 2 February 23
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By cryptostar · Posted
Ethena’s USDe skyrockets to become the third-largest stablecoin, surpassing DAI with a $5.5 billion market cap. Backed by BTC and ETH, its yield of 27% attracts massive investor interest. Recent growth fueled by USDe’s Aave integration highlights its dominance in the DeFi space. The market has also been thriving, now exceeding $200 billion. Tether leads with $138 billion in circulation, followed by USDC at $40.7 billion. USDe’s rise outpaced competitors, with a supply increase of $3 billion in under two months. Ethena Labs’ USDe, surpassed the Maker DAO’s DAI. With a market cap of $5.5 billion, USDe is now behind only Tether (USDT) and USD Coin (USDC), which dominate the stablecoin market. This rise is attributed to USDe’s impressive growth of nearly 90% since November 1, driven by its unique yield-bearing features. The integration of staked USDe (sUSDe) on Aave last month was a game-changer, enabling users to leverage its yield by borrowing other stablecoins, further boosting demand. Aave confirmed sUSDe as its fastest-growing asset, sparking significant interest across the DeFi space. The rise of Ethena's USDe stablecoin has positively impacted ENA's market sentiment, positioning it for long-term growth. Ethena's ENA token has experienced considerable growth in recent months, with a notable surge in its market cap. While it currently trades at around $0.40, projections for 2024 suggest moderate gains, with a potential range between $0.60 to $1.00. source - Coinpedia market For the latest Ethena price prediction and its potential growth, refer to multiple sources for accurate analysis, including recent market trends and expert forecasts. Ethena's USDe has quickly ascended to become the third-largest stablecoin, surpassing DAI with a market cap of $5.5 billion, thanks to its impressive growth and Aave integration. This surge has positively impacted Ethena's ENA token, positioning it for long-term growth. With market predictions for ENA showing potential gains, Ethena's future looks promising. -
By tradinglounge · Posted
FTNT Elliott Wave Analysis Trading Lounge Fortinet Inc., (FTNT) Daily Chart FTNT Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (3). DIRECTION: Upside within wave 5 of (5). DETAILS: We are looking for a bottom in wave 4 as we have approached TradingLevel1 a 100$. Fortinet Inc., (FTNT) 1H Chart FTNT Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {c} of 4. DIRECTION: Bottom in wave {c}. DETAILS: Looking for one more leg lower into wave 4 to then turn higher. Equality of {c} vs. {a} stands at 89$ while another feasible target is at 93$ which is 0.618 {c} vs. {a}. In this Elliott Wave analysis, we will review the trend structure of Fortinet Inc., (FTNT) using both the daily and 1-hour charts to assess the current wave position and potential price movements. * FTNT Elliott Wave Technical Analysis – Daily Chart* Fortinet (FTNT) appears to be in wave 5 of (5). Currently, it is finding support as it approaches TradingLevel1 at $100, which coincides with the expected completion of wave 4. Once wave 4 forms a bottom, the analysis suggests further upside potential as wave 5 unfolds. * FTNT Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, FTNT is in the final stages of wave {c} of 4, which could complete the wave 4 correction. The next leg lower is anticipated to end around $89 (equality of {c} vs. {a}) or $93, which corresponds to the 0.618 Fibonacci retracement of {c} vs. {a}. After this, we expect a turn higher, marking the beginning of wave 5. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!
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