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🌴
ENA
#ENA/USDT#ENA
The price is moving in a descending channel on the 4-hour frame upwards and is expected to continue.
We have a trend to stabilize above the moving average 100 again.
We have a downtrend on the RSI indicator that supports the rise by breaking it upwards.
We have a support area at the lower limit of the channel at a price of 0.33100.3800.
Entry price 0.2800.
First target 0.4174.
Second target 0.4435.
Third target 0.4637.
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!
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.
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.
$ENA - dPOC and ImbalancesRecently, there’s been a noticeable increase in VC/KOL backing Ethena (ENA).
XETR:ENA has broken out above $0.30 and now price is at key resistance at 0.46
Stay below 0.445 on the hourly chart, and we could see a decline toward the 0.40 to 0.38 range (wVAP) . A bounce is likely here, followed by a potential retest of 0.44 (dPOC) .
Any rejection we get at 0.44, I'm expecting for the singleprints to be filled at 0.36 to 0.28 zone.
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🌴
#ENA/USDT#ENA
The price is moving in a descending channel on the 12-hour frame and is sticking to it to a large extent and it was broken upwards
We have a bounce from the lower limit of the channel at a price of 0.200
We have an upward trend on the RSI indicator, which supports the rise
We have a trend to stabilize above the moving average 100
Entry price 0.220
First target 0.257
Second target 0.286
Third target 0.322
#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
ENA - A reversal is inevitable #ENA/USDT #Analysis
Description
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+ 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.
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VectorAlgo Trade Details
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Entry Price: 0.35
Stop Loss: 0.27
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Target 1: 0.39
Target 2: 0.44
Target 3: 0.51
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Timeframe: 4H
Capital Risk: 1-2% of trading amount
Leverage: 5-10x
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Enhance, Trade, Grow
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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
ENA in an impulse?If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
Looks like an impulse may be coming in here.
Want to see a break of the low then a reversal back above it for at least a retrace of the larger degree.
LL first for this idea.
If it breaks up before breaking .256 will have to reconsider.
Trade Safe!
Trade Clarity!
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.
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BINANCE:OMUSDT
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
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BINANCE:ENAUSDT
#ENA/USDT#ENA
The price is moving below a downtrend on a 1-hour frame, and the trend is being tested now and is about to break to the upside.
We have a bounce from the green support area at 0.340
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that is about to break higher and supports the rise
Entry price is 0.350
The first goal is 0.411
The second goal is 0.453
The third goal is 0.495
#ENA/USDT#ENA
The price is moving within a bearish channel pattern on the 4-hour frame, which is a strong retracement pattern
We have a bounce from a major support area in the color EUR at 0.470
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that supports the rise and gives greater momentum and the price is based on it
Entry price is 0.500
The first goal is 0.566
The second goal is 0.618
Third goal: 0.672
Alikze »» ENA | Pullback to broken structureIn time 1D and 8H, it has faced demand after supporting in the golden zone.
💎 According to the momentum and upward guard, if it is issued in the 8H period after meeting with the pullback trigger line to the golden limit, it can continue to grow up to the Fibo range of 0.78 after the support in the first step, and then this growth can continue up to the supply area. slow down
💎 Alternative scenario: if the golden zone and the range of 0.68 are broken, the correction can extend up to the range of 0.58 and the green box.
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Market Amplifier ---- ENAAfter losing the chance to break ATH, BTC continued to lead the market lower. Almost all altcoins have entered a downward channel.
Today we will talk about ENA (Ethena), which is a meaningful project. Ethena is building derivative infrastructure to enable Ethereum to transform into the Global Internet Bond via delta-neutral positions on stETH, to create the first crypto-native, yield bearing stablecoin: USDe.
The long position of USDe captures the income from the ETH staking return, while the short position captures the income from the ETH funding rate. During a bull market, funding rates are generally paid by longs to shorts. Under such a structure, USDe’s gains reached 30%+ at the beginning of this year. The upward spiral structure in the bull market has led Ethena to be called a market amplifier, and has been compared to Luna.
But when the market turns bearish, short sellers begin to pay funding rates, covering the ETH staking income and generating losses. In order to avoid losses, Ethena established a Reserve Fund and used part of its income to resist funding rate expenses when the market fell. So although BTC fell below 63,000 yesterday, USDe's APY is still greater than 10%.
USDe’s current supply reaches 160 million, ranking fourth among stable coins. But the daily trading volume is less than $30 million. In contrast, FDUSD, which ranks fifth on supply, although its market value is lower than USDe, has a daily trading volume of nearly 1.12 billion US dollars. Therefore, Ethena needs to find more cooperation to solve the utility of USDe. In this way, USDe can be converted from an investment certificate to a stable tokens.
It can also be seen from the price trend of ENA that the issue of utility is the most important. So USDe’s APR did not avoid ENA’s decline. At the 4h level, the TSB indicator prompted a SELL signal on June 8, and then ENA was in a downward channel again. Wavy areas provide resistance.
In summary, we believe that Ethena temporarily lacks utility, and the market uses USDe more as investment certificates. The utility issue is being resolved and BTC is rising again. Then the role of the market amplifier will also be reflected in the price of ENA.
Introduction to indicators:
Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated.
KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.