$ENA /USDT: Sharp Correction as Market Pressure Mounts

Current Price: $0.9721 (-15.57%)

The $ENA /USDT pair faces significant downside pressure, retreating from a 24-hour high of $1.1774 to a low of $0.9533. Despite the bearish trend, recent candles show early signs of stabilization near the $0.9700 level.

Key Levels to Watch:

Resistance Zone: $0.9850 - $1.0000

Support Zone: $0.9533 (24-hour low)

24-Hour Range: $0.9533 - $1.1774

Market Analysis:

High trading volume ($207.18M) reflects strong participation during the decline.

Bears dominate, but the $0.9533 support level has so far held, attracting some buying interest.

Possible Strategies:

1. For Bulls: Monitor for a breakout above $0.9850 to confirm recovery momentum toward $1.0000.

2. For Bears: A sustained break below $0.9533 could signal further downside to test lower supports near $0.9200.

Observations:

ENA remains under significant selling pressure as broader market conditions weigh on DeFi tokens. Buyers should exercise caution while monitoring for clearer recovery signs.

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