$NEAR ** Bearish Price Action **: ENA has decreased by 3.2% daily to $0.2426, extending its weekly losses to 9.3% amid widespread market 'fear'.
** Weak Techniques **: The selling pressure confirms the deterioration of the MACD indicator and the weakness of the RSI indicator, which has turned neutral-to-bearish, indicating the continuation of the bearish trend and the absence of buying momentum.
** Capital Flight **: The token is experiencing a significant flight of net capital, indicating that selling pressure currently outweighs buying interest from market participants.
** Core strength **: Despite short-term pressures, the yield-generating USDe token from Ethena remains a core strength, attracting users and providing intrinsic value.
ENA faces bearish technical pressures
ENA shows continued bearish momentum, with a daily decrease of 3.25%.
Technicals are weak, with a negative MACD indicator and a neutral-to-bearish RSI.
Net capital flight indicates dominance of selling pressure.
Whale movements amid mixed sentiments
More than 90 million ENA tokens have been transferred from the exchange, indicating significant activity from whales.
Despite weak price performance, ENA is known for its role in the DeFi sector and the success of the USDe token in generating returns. 🔗
Profit through the Ethena ecosystem
Users can participate in the Ethena ecosystem via the Binance platform by holding USDe tokens to earn returns.
Previous successful campaigns like ENA Launchpool highlight the strength of integration on the platform and the profit opportunities for users.
Key levels to watch
Watch for fragile support at $0.245. A break below this level could lead to further downside. Resistance is near $0.283.
