My view on $ENA right now: cautiously bullish
The setup: $ENA is $0.227, +10.1% in 24h on $548M volume and +46% this week. Catalysts: fresh Coinbase partnership headlines plus the reported StablecoinX ENA lock-up waiver.
Narrative check: the crowd is euphoric — 78.8M views on the Square hashtag, 92% bullish on CoinGecko — but the waiver also opens the door to more ENA supply, and futures look crowded long (Binance long/short 1.94) after $1.7M of shorts were liquidated.
My view: strong TVL ($4.9B) and partnership story, but momentum is chased by crowded longs — upside with a trapdoor underneath. Scenario lean: 55/25/20 bull/bear/neutral.
Not financial advice. DYOR. #ENA #Crypto #BinanceSquare
The setup: $ENA is $0.227, +10.1% in 24h on $548M volume and +46% this week. Catalysts: fresh Coinbase partnership headlines plus the reported StablecoinX ENA lock-up waiver.
Narrative check: the crowd is euphoric — 78.8M views on the Square hashtag, 92% bullish on CoinGecko — but the waiver also opens the door to more ENA supply, and futures look crowded long (Binance long/short 1.94) after $1.7M of shorts were liquidated.
My view: strong TVL ($4.9B) and partnership story, but momentum is chased by crowded longs — upside with a trapdoor underneath. Scenario lean: 55/25/20 bull/bear/neutral.
Not financial advice. DYOR. #ENA #Crypto #BinanceSquare