$ENA
The daily TD Sequential signal appeared on ENA—the same signal that preceded a 22% rise on October 20. But the signal alone isn’t enough, because the price is still below the moving averages and selling pressure continues.
The price is now 0.1543. Support is at 0.1505–0.1519, with resistance at 0.1552 and then 0.1585. I don’t see a positive shift until 0.1552 is reclaimed.
What makes me more cautious than the technical signal is the $17 million worth of tokens unlocking on November 5, adding supply while the price remains weak.
I expect the signal to prompt a limited bounce toward 0.1552, but its continuation depends on breaking above that level. If the price fails to break through, a return to test 0.1505 remains the likelier outcome. I’ll change my view if it closes above 0.1585.
This is analysis, not financial advice.
If you found this post useful, we’d appreciate your support with a like 👍
#ENA #Ethena #BinanceSquare
The daily TD Sequential signal appeared on ENA—the same signal that preceded a 22% rise on October 20. But the signal alone isn’t enough, because the price is still below the moving averages and selling pressure continues.
The price is now 0.1543. Support is at 0.1505–0.1519, with resistance at 0.1552 and then 0.1585. I don’t see a positive shift until 0.1552 is reclaimed.
What makes me more cautious than the technical signal is the $17 million worth of tokens unlocking on November 5, adding supply while the price remains weak.
I expect the signal to prompt a limited bounce toward 0.1552, but its continuation depends on breaking above that level. If the price fails to break through, a return to test 0.1505 remains the likelier outcome. I’ll change my view if it closes above 0.1585.
This is analysis, not financial advice.
If you found this post useful, we’d appreciate your support with a like 👍
#ENA #Ethena #BinanceSquare
