Alright guys and Girls + Not Conformed🙄, let’s talk about Ethena $ENA today because this chart is catching attention again.🧐 As you can see that the price is sitting around 0.32, and honestly, it’s been holding this zone like a champ.😜
Now, if you remember that wick from October 10th 🚩 yeah, the one that wicked all the way down near $0.13 💩 that wasn’t weakness, that was smart money entering.🍄 Price dipped hard, cleaned out stop losses, and instantly bounced back.
Since that day, $ENA has been forming higher lows, showing that buyers are still active and accumulating quietly.
Technically, the range is pretty clean, we have support zone at 0.28 👉 0.30 and Resistance zone at 0.38 👉 0.40.
If ENA breaks above 0.40 with volume, we could easily see a strong reversal.🥳 But if it drops under 0.28 than our next support as around 0.20, and only a complete market dump could drag it back near 0.13 ✔
We all know that, Ethena is not some random hype coin. It’s the project behind USDe, a synthetic stablecoin backed by crypto collateral and hedging strategies instead of fiat reserves. That’s what makes it different, innovative, but also risky when volatility kicks in.👀
Yeah, we did see a $5.7 billion outflow recently and a slowdown in revenue, but the team hasn’t gone silent. They are still building, adding integrations, and keeping governance active through ENA. Basically, the fundamentals are shaky but alive and that’s enough for smart investors to keep an eye on it.
To me, ENA looks like one of those coins sitting in a “make or break” zone. If the market stays stable and buyers keep defending $0.30, this could easily be the bottom that sets up the next wave.
Thats why, I have decided to buy Ena at current price. My target will be higher than previous all time high.🍄🥳
What is your opinion at Ena and who is buying with me?
What do you think "accumulation zone or trap before another leg down?" 👇
