📉 $ENA /USDT Market Update📉

Over the past few days, ENA/USDT has experienced significant volatility. After reaching a high of 1.082, the price took a sharp downturn. As of now, the price is hovering around 0.838.

🔍 **Key Observations:**

- **Moving Averages:**

- MA(7): 0.862

- MA(25): 0.938

- MA(99): 0.912

- **Support & Resistance:**

- Support: 0.791

- Resistance: 0.883

- **Volume Spike:** A notable increase in volume was observed on June 6th, indicating heavy selling pressure.

📊 **Technical Indicators:**

- The price recently crossed below the MA(25), signaling a potential bearish trend.

- The MACD and volume trends suggest further downside potential unless a reversal occurs.

💡 **Trading Insights:**

- Watch for price action around the 0.791 support level. A break below could lead to further declines.

- Look for a recovery above the 0.883 resistance for potential bullish reversal.

Stay tuned for more updates and trade wisely! 🚀

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