$ENA critical support has been effectively broken, and the extent of the drop has confirmed a short-term bearish structure. The project team is about to unlock a large amount of tokens; meanwhile, potential supply pressure on the spot market is rising, making it easy for long positions to get hung up above. At the same time, moving the hedging logic into stock and futures may broaden the profit landscape, but fee volatility and cross-asset risks are more complicated, so it’s unlikely to reverse the weak market structure in the short term. For $ENA , within the current structure, following the trend by waiting for a stabilization confirmation signal to reassess direction aligns better with capital logic than going against the trend to add longs.
$BTC

📊 Technical Analysis:
Current Price: 0.14841 USDT
🔴 Resistance Level: 0.15938 (7.08% away from the 1H benchmark)

$ENA