$ENA 💥🛑
ENAUSDT Relief Bounce With Supply Risk Ahead
Bias: Cautiously Bullish (Short-term) | Bearish Risk (Mid-term)
Market Structure
ENA remains in a broader downtrend, printing lower highs and lower lows from the $0.17 region. However, price has formed a base near $0.1215 and is now showing a short-term recovery, consolidating above $0.14 — a sign of temporary demand absorption.
Key Levels
Support: $0.130 – $0.121 (major demand zone)
Resistance: $0.143 – $0.155 (prior supply & breakdown area)
A clean hold above $0.143 could open room toward $0.155, while failure risks a retest of $0.13.
Momentum & Structure Shift
The 7 EMA crossing above the 25 EMA signals early bullish momentum.
MACD above signal line with a positive histogram supports the short-term upside narrative.
That said, structure is still corrective, not a confirmed trend reversal.
Volume & Flow Analysis
Despite the bounce, money flow remains net negative, especially in recent hours — suggesting the move is driven more by short covering than strong spot accumulation. Buyers need sustained volume expansion to flip control.
Fundamental & Supply Watch
ENA’s USDE stablecoin narrative and new Pendle pool utility support long-term optimism.
However, token unlocks (Feb 2–8) introduce significant supply risk, which could cap upside and increase volatility.
Outlook
ENA can extend its relief bounce as long as $0.13 holds, but upcoming unlocks + weak inflows keep this as a tactical trade, not a conviction hold. Expect volatility spikes near resistance.
Bottom Line:
Momentum favors bulls short-term — but supply pressure remains the real test.
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