$ENA In the past week, only 1 of the 7 daily candles closed green.
This looks at Binance Spot ENA/USDT and BTC/USDT daily candles that have closed, from Nov 7 to Nov 13 UTC, excluding today. Daily gains and losses are calculated from that day’s open to close:
Nov 7: ENA -2.99%, BTC +0.03%
Nov 8: ENA -6.30%, BTC -1.34%
Nov 9: ENA +3.16%, BTC +0.69%
Nov 10: ENA -2.09%, BTC -2.09%
Nov 11: ENA -3.00%, BTC +0.30%
Nov 12: ENA -3.57%, BTC -3.45%
Nov 13: ENA -4.20%, BTC -4.40%
7-day total: ENA fell from 0.1637 to 0.1345, down 17.84%; over the same period, $BTC -9.93%. 1 up, 6 down; the only green candle was on Nov 9.
The week’s high was on the first day, Nov 7, at 0.1654; the low was on the last day, Nov 13, at 0.1317. There was only one rebound day in between.
The week before that (Oct 31 to Nov 6), ENA was already down 13.89%, while BTC was down just 1.97%. That makes two weeks in a row of underperformance.
Trading volume hasn’t really dried up: the total over these 7 days was about 175 million USDT, compared with about 177 million in the prior 7 days, a decline of 0.77%. The highest-volume day was Nov 13, accounting for 23.38% of the week’s total; ENA fell 4.20% that day.
My take:
Beginners: It’s common for altcoins to fall harder when the broader market is down, and ENA over these past two weeks is an example.
Spot traders: Volume hasn’t dropped while the price keeps falling, which suggests people are still selling. Don’t rush to go all in on a dip.
Futures traders: Shorting during a run of red candles may seem like the obvious move, but a rebound can also come quickly at these levels. Think through your position size and stop-loss first.
These are historical data from closed candles. They don’t represent future price movements and aren’t a buy or sell recommendation. Have you been watching ENA lately?
This looks at Binance Spot ENA/USDT and BTC/USDT daily candles that have closed, from Nov 7 to Nov 13 UTC, excluding today. Daily gains and losses are calculated from that day’s open to close:
Nov 7: ENA -2.99%, BTC +0.03%
Nov 8: ENA -6.30%, BTC -1.34%
Nov 9: ENA +3.16%, BTC +0.69%
Nov 10: ENA -2.09%, BTC -2.09%
Nov 11: ENA -3.00%, BTC +0.30%
Nov 12: ENA -3.57%, BTC -3.45%
Nov 13: ENA -4.20%, BTC -4.40%
7-day total: ENA fell from 0.1637 to 0.1345, down 17.84%; over the same period, $BTC -9.93%. 1 up, 6 down; the only green candle was on Nov 9.
The week’s high was on the first day, Nov 7, at 0.1654; the low was on the last day, Nov 13, at 0.1317. There was only one rebound day in between.
The week before that (Oct 31 to Nov 6), ENA was already down 13.89%, while BTC was down just 1.97%. That makes two weeks in a row of underperformance.
Trading volume hasn’t really dried up: the total over these 7 days was about 175 million USDT, compared with about 177 million in the prior 7 days, a decline of 0.77%. The highest-volume day was Nov 13, accounting for 23.38% of the week’s total; ENA fell 4.20% that day.
My take:
Beginners: It’s common for altcoins to fall harder when the broader market is down, and ENA over these past two weeks is an example.
Spot traders: Volume hasn’t dropped while the price keeps falling, which suggests people are still selling. Don’t rush to go all in on a dip.
Futures traders: Shorting during a run of red candles may seem like the obvious move, but a rebound can also come quickly at these levels. Think through your position size and stop-loss first.
These are historical data from closed candles. They don’t represent future price movements and aren’t a buy or sell recommendation. Have you been watching ENA lately?