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I'm bullish on #ENA , and here's why:
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- Fundamentals and technicals are looking good!
- ENA's tied to two strong narratives: Ethereum (thanks to Ethereum ETF) and Real World Assets (RWA).
Technical Analysis:
- ENA broke out yesterday with a lot of momentum, but some of that has already faded.
- I'm unsure if the breakout will hold, but I see a broader uptrend.
- ENA's total value lock is up over $500 million in just two weeks!
Short-term Outlook:
- ENA will likely stay bullish, but its momentum depends on Bitcoin.
- If Bitcoin breaks above $69,500, ENA may rally to $1.11-$1.15.
- If Bitcoin drops, ENA may drop to $0.93-$0.92, then continue its bullish momentum.
Key Levels to Watch:
- $1 (big psychological resistance level)
- $0.95-$0.96 (strong support level)
Conclusion:
- I'm bullish on ENA, but wait for one of the key levels to break before making a move.
- If ENA rejects $1 and drops below $0.95, it may drop to $0.91, then continue its bullish momentum.
Stay vigilant, and let's ride this market wave together!
