I'm a big fan of $ENA , but I have to respect what the chart is telling me. 👀
#ENA appears to have broken below its rising trendline and is now retesting that area from underneath.
If this retest gets rejected, a short setup could become interesting, especially if $BTC starts losing momentum and drops later today. 📉
🎯 The $0.14 zone could be worth watching as a downside target if bearish momentum builds.
Of course, if BTC keeps pushing higher or ENA reclaims the trendline, this setup could fail.
Sometimes, being a fan of a project means staying objective about its chart.
What do you think? Is @Ethena Labs setting up for another leg down, or will the bulls reclaim the trendline? 👁️
#ENA appears to have broken below its rising trendline and is now retesting that area from underneath.
If this retest gets rejected, a short setup could become interesting, especially if $BTC starts losing momentum and drops later today. 📉
🎯 The $0.14 zone could be worth watching as a downside target if bearish momentum builds.
Of course, if BTC keeps pushing higher or ENA reclaims the trendline, this setup could fail.
Sometimes, being a fan of a project means staying objective about its chart.
What do you think? Is @Ethena Labs setting up for another leg down, or will the bulls reclaim the trendline? 👁️