$ENA #ENA 📉
Direction: SHORT
Entry zone: 0.160841 to 0.161485
Stop loss: 0.163580
Target 1: 0.157940
Target 2: 0.155522
Ethena is trading near 0.16142 dollars, down 2.95 percent in 24 hours, inside a range of 0.161002 to 0.171171 dollars, and the recent closes show a flat drift at the lows, 0.162972, then 0.161887, then 0.161238, then 0.161942, then 0.161163. 🔴 My reading is that ENA is weak while Bitcoin chops under 77,900 dollars, because it gave back the whole push toward 0.171171 and buyers have not defended the middle of the range, with 211.3 million dollars of volume and every close pinned near the range low. A short from the current zone, with a stop above 0.163580, targets 0.157940 first and then 0.155522 if sellers push through the range low. A rise above 0.163580 kills the idea without debate.
Futures trading is risky. Trade small, use a stop loss, and do your own research. This is my reading, not a guaranteed signal.
Does Ethena fall to 0.157940 first, or rise above 0.163580? 🤔
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