$ENA ** bearish Price Action **: ENA has decreased by 3.2% daily to $0.2426, extending its weekly losses to 9.3% amidst widespread "fear" in the market.
** Weak Indicators **: Selling pressure confirms the deterioration of the MACD indicator and the RSI has turned neutral-to-bearish, suggesting a continuation of the downward trend and a lack of buying momentum.
** Capital Flight **: The token is experiencing significant capital flight, indicating that selling pressure currently exceeds buying interest from market participants.
** Core Strength **: Despite short-term pressures, the USDe token issued by Ethena remains a core strength, attracting users and providing intrinsic value.
ENA faces bearish technical pressures
ENA shows continued bearish momentum, with a daily decline of 3.25%.
The indicators are weak, with a negative MACD and a neutral-to-bearish RSI.
Net capital flight indicates dominance of selling pressure.
Whale movements amid mixed sentiments
Over 90 million ENA tokens have been moved from the trading platform, indicating significant activity from whales.
Despite the weak price performance, ENA is known for its role in the DeFi sector and the success of the USDe token in generating yields. 🔗
Profit through the Ethena ecosystem
Users can participate in the Ethena platform ecosystem through Binance by holding the USDe token to earn yields.
Successful past campaigns like ENA Launchpool highlight the power of integration on the platform and profit opportunities for users.
Key levels to watch
Watch for fragile support at $0.245. A break below this level could lead to further declines. Resistance is near $0.283.
