$ENA Technical Analysis & Support Test 📉
Entry Zone: 0.0880 – 0.0895
Bullish Above: 0.0980
TP1: 0.1030
TP2: 0.1090
TP3: 0.1150
SL: 0.0840
$ENA (Ethena) is currently navigating a sharp corrective phase on the 4H chart, trading at 0.0905 with a 6.70% decline. The price action has broken below several local support levels following a rejection at the 0.1099 peak. We are seeing the price currently testing the 0.0897 mark, which is serving as immediate psychological and structural support.
While the volume shows some buyer interest at these lower levels, a significant reversal requires reclaiming the 0.0976 zone to shift the momentum back to the bulls. Until a clear bullish divergence or a base-building structure forms, the trend remains weighted to the downside.