ENA, this year's star coin, a popular cryptocurrency. Established on Ethereum's dollar protocol, a kind of internet bond. If categorized, it could also fall under the defi protocol category. However, after the bull market in Toronto, the ones that can truly survive are almost Uni, aave, cake, copm, and ldo, which are transaction-type defi.
Although this ena has strong whale support, there must be significant institutional investment, and institutions need to cash out. It's a love-hate relationship with it.
From a technical perspective, it has been rising for several weeks, breaking through the downward pit with increased volume, and is now out of the pit, expecting to continue rising in the future. The upper resistance is at 1.5230, the previous high, and breaking the previous high is just a matter of time.
The short-term support below is at 1.2091 and around 1.0820. You can place an order to enter. Set the stop loss around 0.995.
For medium to long-term positions, it needs time to wait. From a stability standpoint, for medium to long-term, around 0.87 and 0.65 can be good entry points.
In 2 days, it will unlock again, so be aware of price fluctuations, and also note that ENA, with a total supply of 15 billion tokens, currently has 86.54% still to unlock. Therefore, we can make an assumption that if this bull market reaches 5 dollars, it will be quite impressive. Do not think too much about it. After the next bull market, it will definitely be a disaster. Altcoins, just make profits, do not aim for too much ambition. $ENA