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ENA

ENA (Ethena) The recent price movement of ENA (Ethena) has shown exciting technical shifts, particularly after attempting to break out of a long-standing price channel four times. This repeated testing of resistance typically indicates strong buying pressure and potential momentum toward higher price levels. With the price channel finally breaking, ENA has surged toward a target range of $2-$5 This upward movement suggests increased investor confidence and bullish sentiment, often seen when technical resistance is overcome after multiple attempts. A price target of $5 is ambitious, yet plausible, given the increased interest and potential fundamental factors supporting ENA. However, as with all crypto investments, this analysis should be viewed as a technical observation and not financial advice, as the market remains highly volatile and subject to rapid changes based on external influences.
by Wibawana
1
Is #ENAUSDT Ready to Rally or Fall Further? Key Levels to Watch Yello, Paradisers! Is #ENAUSDT ready to make a massive bullish move and slide down further? Let's discuss #Ethena analysis and see what's happening: 💎#ENA is showing promising signs of a bullish continuation and holding steady at the crucial support zone between $0.254 and $0.300. We've been closely watching its journey within a Descending Broadening Wedge pattern, and now, #Ethena looks poised to test the descending resistance line—a potential turning point. 💎Volume has remained robust, and with #ENA marking its all-time low just one month ago, we may be setting up for a strong rebound. As the saying goes, "Once we hit bottom, the only place to go is up," and this could be unfolding right now. 💎If #ENAUSDT can maintain strength at its current level, we could be on the verge of a significant rally. A breakout above the $0.470 minor resistance zone would open the path to higher targets and potentially even new highs. 💎However, if momentum weakens around this support zone, a pullback toward the lower demand area near $0.204 could be in store. A daily close below this demand zone would invalidate our bullish outlook and could signal more downside risk. Stay vigilant, Paradisers, and closely monitor #ENA's price action. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Simon
6
ENA/USDT: Bull Flag Breakout! Strong Bullish Setup in Play!!Hey everyone! If you’re finding value in this analysis, don’t forget to hit that 👍 and follow for more updates! ENA is looking strong right now! It is breaking out from the bull flag pattern and a successful retest is also done. Long some at CMP and add more in the dip. Entry range: CMP and add more up to $0.36 Targets:- $0.44/$0.50/$0.57/$0.64 SL: $0.345 Lev: Use low leverage (Max 5x) What do you think of ENA’s price action? I’m seeing a strong bullish setup here! Share your insights and analysis in the comments below!
Long
by CoreCrypto1
Ethena Labs Under Fire: Alleged Funds Misuse Sparks 6% ENA DropOverview of Allegations and Price Impact Ethena Labs, an Ethereum-based synthetic dollar protocol, is facing significant community backlash after allegations of fund misuse. The controversy centers around Ethena Labs’ involvement in its own crypto farming event using 180 million XETR:ENA tokens, allegedly manipulating rewards to benefit the organization. Following these accusations, the ENA token’s price has taken a notable hit, crashing 6.01% to $0.33 as investors question the protocol’s transparency and governance. Details of the Alleged Misuse The allegations emerged on October 27 when crypto analyst Nomad pointed out that Ethena Labs staked approximately 25% of the total ENA (SENA) supply in its ongoing Season 3 farming event. According to Nomad, the Ethena team used six wallets, which reportedly accumulated significant rewards, including Satoshi points and Ethereal tokens, through interactions within the ecosystem. Observers believe that the staking could dilute the rewards of regular participants and create an ethical dilemma by favoring foundation insiders. The accusations reveal that these wallets may have received 180 million XETR:ENA tokens from a Coinbase Prime Custody address, previously believed to hold locked tokens for the Ethena Foundation. The debate sparked an intense response from the community, with some questioning Ethena’s governance practices. In response, Ethena Labs issued a public statement denying the allegations. The team asserted that no locked team or investor tokens were staked to receive rewards, and all ENA tokens in question were sent from foundation wallets following the vesting schedule. To enhance transparency, Ethena Labs announced a UI update, breaking down total sENA eligible for future airdrops and excluding undistributed tokens. Past Staking Controversies Ethena’s history with its farming events raises additional concerns. Past staking events, particularly Seasons 1 and 2, reportedly suffered from irregularities, leading some participants to incur financial losses. These recurring issues have led many community members to scrutinize the protocol’s fairness and commitment to ethical governance. For Ethena Labs, maintaining credibility is crucial, given that the protocol manages a substantial $2.6 billion in user funds. Despite the allegations, Ethena Labs received a confidence boost as Wintermute, a prominent algorithmic trading company, accepted Ethena’s USDe token as collateral for over-the-counter (OTC) trading activities. This acceptance suggests that, while mired in controversy, Ethena’s assets are still gaining traction in broader financial markets. Technical Analysis On the technical front, XETR:ENA token is experiencing a downtrend as it currently trades below the 50-day moving average. With a Relative Strength Index (RSI) at 43, the market sentiment remains bearish. ENA’s daily chart reveals a rising wedge pattern, indicating potential downward movement if the price fails to hold within this channel. The token is approaching a crucial support level at $0.17, a breakdown of which could lead to further declines, especially if Bitcoin’s bullish momentum reverses. With the ongoing scrutiny and allegations, Ethena Labs faces pressure to prove its commitment to fair practices and transparency. If it addresses these issues effectively, the protocol may regain the community’s trust. However, any failure to resolve these concerns could hinder its long-term prospects in the increasingly competitive DeFi landscape.
Short
by DEXWireNews
ENA/USDT: Potential Accumulation Phase on Weekly SupportThe chart suggests that ENA/USDT is currently in a potential accumulation phase, with price hovering around a key support zone on the weekly timeframe. This may indicate a possible bottoming pattern, setting the stage for a bullish reversal. Detailed Analysis: Support Zone: ENA/USDT is trading near the highlighted green support area around the $0.16 - $0.20 range. This zone has acted as a critical support level in the past, absorbing selling pressure and facilitating potential buying interest. Current Price Action: The price is consolidating in this zone, indicating a possible accumulation phase, which typically precedes a bullish move. The recent low volume suggests a lack of selling momentum, which could be a sign of potential bullish interest building up. Entry Price: The ideal entry range is around $0.16 - $0.20, given the strong support at these levels. This offers a lower-risk entry point with the potential for a significant upside. Target Price: The primary target price for this setup could be around $0.55, which corresponds to a previous resistance level and aligns with potential recovery if bullish momentum picks up. Key Support & Resistance Levels: Support: $0.16 - $0.20 (accumulation zone) Resistance: $0.36 (intermediate resistance), $0.55 (target level) Risk Management: Stop Loss: To manage risk, a stop-loss can be placed below $0.15, as a break below this level could invalidate the potential bullish setup. Trade Plan Summary: Entry Zone: $0.16 - $0.20 Take Profit: $0.55 (target level) Stop Loss: Below $0.15 Conclusion: ENA/USDT appears to be consolidating at a strong weekly support zone, indicating a potential accumulation phase. If the support holds, a bullish reversal toward the $0.55 resistance level is possible.
Short
by cashback-ventures
Is ENAUSDT About to Skyrocket or Fake You Out? Yello Paradisers ! Is #ENAUSDT finally ready to reverse its trend, or is this just a trap for unsuspecting traders? Let's dive into what we see in the charts and break down the key zones for you! 💎#ENAUSDT has been in a clear downtrend for several days, forming lower lows and lower highs on the lower time frames. It has been consistently trading within a descending resistance trendline, but there’s a critical shift: a breakout and retest of this trendline have recently taken place, along with a liquidity sweep that perfectly tapped into a major demand zone. 💎Now, the pair has managed to reclaim a previous support zone and is holding just above it. This change in behavior signals a potential bottoming formation, especially as we see the RSI showing signs of exhaustion. On top of that, a bullish divergence is building up, adding more weight to the case for a probable reversal. 💎The pair now has probability upside move towards the resistance zone at 0.3121, and if accumulation continues with strong buying volume, we could see a push towards the next resistances at 0.3388 and 0.3740. Keep a close watch on how it behaves around these levels, as they could define the next trend move. 💎However, don’t let your guard down! The trend setup will be invalidated if we see a 4-hour candle closing below the demand zone at 0.2563. Such a move would suggest that sellers are still in control, and this potential reversal could turn into a bear trap. Stay sharp, Paradisers! Will this be a breakout or a fake-out? Only time—and disciplined trading—will tell! MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Jack
1
#ENA/USDT#ENA We have a descending channel pattern on the 12-hour frame, the price is moving within it and adhering to its borders well We have a support ar ea in green at a price of 0.800 after the price touched it and rebounded from it We have a trend to stabilize above the moving average 100 We have a descending trend on the RSI indicator that supports the price upwards and is expected to break it Entry price 0.2900 First target 0.330 Second target 0.355. Third target 0.386
Long
by CryptoAnalystSignal
ENA - A reversal is inevitable #ENA/USDT #Analysis Description --------------------------------------------------------------- + The price has formed a channel and is currently trading within it. + A clear breakout from the channel could trigger a bullish trend. + A minor correction is expected before the trend reverses. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.35 Stop Loss: 0.27 ------------------------------ Target 1: 0.39 Target 2: 0.44 Target 3: 0.51 ------------------------------ Timeframe: 4H Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
Alikze »» OM| Pullback to the roof major🔍 Technical analysis: Pullback to the roof major - In the analysis presented before , it was mentioned that it is located in a range area, which after creating demand in the green box area, it was able to advance to the supply area. - But it is currently in a bullish channel in the daily and 12H timeframes. - According to the bottom range of the channel, if it faces demand in the liquidity area, it can grow up to the previous ceiling range of 1.37 in the first step. - In addition, it will have the ability to reach the specified supply area by breaking the previous ceiling. 💎 Alternative scenario: But if the pullback to the broken structure faces selling pressure and breaks it, the correction can continue up to the green box area. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:OMUSDT
Long
by alikze
Alikze »» ENA| Movement in the descending channel🔍 Technical analysis: Movement in the descending channel - In the analysis presented in the previous post , it was able to move up to the 0.78 Fibo range according to the predicted movement path, which then encountered a correction that also traversed the alternative path. - Currently, after breaking the downtrend channel, it has re-entered the channel. - It is moving in an ascending channel in the 12H time frame. - After breaking the support area, which is now a supply range for an upward trend, it has faced selling pressure, which, of course, has tried to break it several times, which has failed so far. - Therefore, if it can maintain the 0.39 area and stay above it, it can break the supply area and have an upward movement up to 0.586. - Furthermore, considering that the supply zone is in the middle of the downward channel, if it fails, it can test the 0.78 Fibo zone again. 💎 Alternative scenario: In addition, you should note that breaking and stabilizing below the 0.39 area can continue the downward trend up to the Fibo range of 1.618. 🎯 Targets: 0.586 - 0.78 Fibo 🟩 Support: 0.39 »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:ENAUSDT
Long
by alikze