$ENA ALERT🔥⚡🔥⚡🔥⚡
📉 Ethena [$ENA ] Faces Bearish Pressure: Recent Gains at Risk 🚨
🚨 Breakdown Alert: $ENA has broken down from an ascending channel pattern, signaling potential further declines. The breakdown highlights increasing selling pressure as market sentiment turns bearish.
💔 Failed to Hold $1: After briefly crossing the $1 mark (last reached in June 2024), ENA has dropped below this critical level. The daily decline stands at 6.26%, cutting its weekly gain to 12.85%.
📊 Technical Indicators Point to More Losses:
Death Cross on MACD: 📉 The short-term MA crossed below the long-term MA, signaling bearish momentum.
RSI Drops to 44.58: 😬 Indicates that bears are dominating the market.
📌 Key Support Levels to Watch:
$0.8888 (Potential pause zone)
$0.6852
$0.5826
These levels could act as potential bounce points or lead to further price retracement.
💼 Seller Dominance:
Long-to-short ratio at 0.8847, favoring sellers.
Over $1.19M in losses for long traders vs. just $95,400 for shorts in the past 24 hours.
🔮 Outlook: If bearish trends persist, ENA could continue its downward spiral. Stay cautious and monitor support levels closely!
💬 What’s your next move? HODL, SELL, or BUY the dip? Let us know! 🤑
