$BTC $BNB $ENA

#bitcoinhalving #Megadrop #Megadrop

I'm presenting a technical analysis of ENA.

Recently, it broke through a strong support level at 0.991. Despite several attempts, it hasn't reclaimed the 1.0 level since then.

Currently trading below 0.95, it is likely to move towards its next support at 0.941.

If it breaches the 0.941 support, the next significant level is around 0.81, suggesting limited support in between.

The outlook leans towards a bearish trend.

Further decline below 0.941would potentially lead to a target around 0.81.

Fibonacci analysis indicates a breach of the golden ratio (0.618 at 0.992), signaling a concerning trend.

It's a cautionary signal; taking long positions might be risky as the trend is unfavorable.

Please note that this is not financial advice. Do your own research (DYOR) before making any decisions.