12/16/2024 #Ethena Labs launched its new product based on the stablecoin USDtb, supported by the BUIDL fund of BlackRock in partnership with Securitize.

Analysis of the chart #ENA /USDT (1W, weekly timeframe)

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1. General overview of the situation:

• Current price: $1.1443

• Decrease: -8.59%

• Volumes: 229.34M, indicating activity, but a decrease in volumes may suggest profit-taking.

• Formation:

o "Double Bottom" — this is a classic bullish formation signaling a possible breakout upwards.