Ethena (ENA) Price Movement and Market Analysis

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Recently, Ethena (ENA) has garnered significant attention from venture capitalists (VC) and key opinion leaders (KOL), leading to its breakout above **$0.30**. Currently, ENA is facing key resistance at **$0.46**.

Current Price Action

- ENA is now at a crucial juncture :

- Resistance Level : $0.46

- Support Level : If it stays below **$0.445** on the hourly chart, a decline towards **$0.40 to $0.38** is expected (wVAP).

Market Movement Predictions

- A bounce is anticipated around the **$0.40 to $0.38** range, with the potential for a retest of **$0.44** (dPOC).

- Should there be a rejection at **$0.44**, the likelihood of filling single prints in the **$0.36 to $0.28** zone increases.

Conclusion

The current trading environment for ENA indicates potential volatility, with critical resistance and support levels influencing price movements.

Advice

- Investors should monitor the **$0.445** and **$0.46** levels closely.

- Consider setting alerts for price movements around these key points to make informed trading decisions.

- Be prepared for potential declines if resistance holds, as it may create buying opportunities in lower ranges.