$ENA
ENA
0.2102
+5.31%
๐ $ENA Market Update: Riding the Downtrend
Ethena (ENA/USDC) is strictly respecting a descending Downtrend Line, with sellers dominating the current structure.
Technical Breakdown:
The Trend: Price action remains below key Moving Averages, confirming bearish momentum.
The Setup: The diagonal trendline is acting as a roof, pushing the price lower.
The Target: As noted on the chart, the path of least resistance appears to be downward toward the major Support level at $0.2085.
๐ฎ Prediction:
Likely retest of the $0.20 zone. Traders should watch this level closely for a potential bounce or a capitulation breakdown.
Are you waiting for the $0.20 entry or shorting the bounces? ๐