24h high 0.2946, smashed down to a low of 0.2574—an amplitude of 12 points only gave a -2% close. This order book, $ENA , makes me frown.
Trading volume hasn’t really shrunk; the $260 million in turnover is right here, which shows that bulls and bears really fought it out in this range. The problem is that price didn’t hold the midline—around 0.27 it’s been repeatedly pressured, and the short-term structure is weak. I’ve seen a few big V’s still shouting the Ethena USDe narrative, but the on-chain stablecoin supply hasn’t moved much these past two days; the smart money isn’t rushing in.
To put it simply, this is an emotions-driven market grinding along now. The low at 0.2574 is the short-term lifeline; if it breaks, there’s room to fall. If it can reclaim and hold above 0.27, then we can talk. Don’t treat the hype around a track as short-term certainty. This move around $ENA looks more like a shakeout of floating positions.
Which coin are you watching?
$ENA #行情分析 #On-chain data
Trading volume hasn’t really shrunk; the $260 million in turnover is right here, which shows that bulls and bears really fought it out in this range. The problem is that price didn’t hold the midline—around 0.27 it’s been repeatedly pressured, and the short-term structure is weak. I’ve seen a few big V’s still shouting the Ethena USDe narrative, but the on-chain stablecoin supply hasn’t moved much these past two days; the smart money isn’t rushing in.
To put it simply, this is an emotions-driven market grinding along now. The low at 0.2574 is the short-term lifeline; if it breaks, there’s room to fall. If it can reclaim and hold above 0.27, then we can talk. Don’t treat the hype around a track as short-term certainty. This move around $ENA looks more like a shakeout of floating positions.
Which coin are you watching?
$ENA #行情分析 #On-chain data