Today's Trading Signals for $ENA Ethena

Entry Range:
Long: $0.9350 - $0.9450
Short: $1.00 - $1.05

TP:
Long: $0.9750 - $1.08
Short: $0.9100 - $0.8750

ENA (Ethena) is currently trading near $0.9424, down -10.18% over the last 24 hours. The trading volume has declined by -27.62%, reflecting a cautious sentiment in the market. Despite this, ENA is consolidating in a tight range near its 24-hour low of $0.9413, indicating a potential accumulation or distribution phase.

Key metrics like Market Cap/TVL ratio of 0.4612 and strong TVL support at $6B highlight solid fundamentals. However, recent sharp declines might suggest short-term volatility, ideal for scalping.


Long Opportunity: If ENA sustains above $0.9350, watch for a breakout towards $0.9750 and potentially higher.
Short Opportunity: A rejection near the resistance zone ($1.00-$1.05) can provide a shorting opportunity down to $0.91.

Ensure risk management, as volatility remains high, and set stop-loss accordingly.

šŸ„‚ Trade HerešŸ‘‡$ENA

šŸšØ Note: Trade at your own risk. DYOR.

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