📉 ENA at Support – Is Ethena Still Alive? ENA is hovering around key support, and traders are watching closely. With Ethena's synthetic dollar (USDe) promising yields and major backers like Binance Labs, Fidelity, and Wintermute, the project still has institutional weight. But with the current downtrend, the question remains: Is ENA set for a bounce, or is confidence fading?
📉 Key Levels to Watch: 🟢 Support Zone: $0.40 - $0.35 → Holding here could trigger a bounce 🔴 Break Below: $0.30 → Potential deeper sell-off 🚀 Upside Target: $1.10 resistance if bulls step in
💡 Is Ethena Still Alive?
Strong Backing: Big-name investors are still involved High TVL (6.7B) shows capital is locked in Market sentiment is shaky, but its synthetic dollar (USDe) is gaining adoption 🔮 Verdict? ENA looks oversold, and if support holds, a short-term reversal is possible. But if this level fails, expect further downside.
💬 What’s your take? Is this an opportunity or a trap? Let me know your thoughts below!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.