#ENA Today's market is truly unpredictable!
#加密市场反弹
Prices are like a roller coaster, the latest price is 0.3588, which is directly cut in half compared to the previous high of 0.4628, with bears clearly in control. In terms of trading volume, VOLUME shows 170 million, with estimated trades nearing 200 million, and there are obvious spikes in certain time periods,
indicating that there is still capital secretly bottom-fishing or dumping from above, making the market activity significantly higher than usual. On the technical side, the short-term moving average has just crossed below the long-term moving average, forming a 'death cross,' which is a signal for continued decline.
Although the MACD histogram is still positive, it has started to narrow, indicating that bullish momentum is weakening. The KDJ indicator is hovering in the 'overbought zone,' suggesting it should correct, but the price has been consolidating, feeling like it’s holding back for a big move.
As for market news, the Ethena project team will have the second quarter airdrop available for claim on September 30, and the third quarter points have already started accumulating, clearly aiming to attract new holders for locking up. Additionally, a whale took out 5.19 million ENA from Binance for full staking, showing long-term optimism.
However, a large wave of unlocks for other tokens is set for next week; although ENA is not on the list, market sentiment can easily be swayed. Overall, this wave of decline for ENA is not over, unless there is a surge breaking through the resistance at 0.38; otherwise, we still need to operate under a volatile downtrend.
Nonetheless, the project's fundamentals are indeed solid, with great long-term potential. At this price level, aggressive investors can consider building positions in batches, while conservative investors might want to wait a bit longer.
I usually share some cutting-edge news and valuable strategies, welcome to discuss ideas and seize this big opportunity together!
#币安Alpha上新 $ENA
#加密市场反弹
Prices are like a roller coaster, the latest price is 0.3588, which is directly cut in half compared to the previous high of 0.4628, with bears clearly in control. In terms of trading volume, VOLUME shows 170 million, with estimated trades nearing 200 million, and there are obvious spikes in certain time periods,
indicating that there is still capital secretly bottom-fishing or dumping from above, making the market activity significantly higher than usual. On the technical side, the short-term moving average has just crossed below the long-term moving average, forming a 'death cross,' which is a signal for continued decline.
Although the MACD histogram is still positive, it has started to narrow, indicating that bullish momentum is weakening. The KDJ indicator is hovering in the 'overbought zone,' suggesting it should correct, but the price has been consolidating, feeling like it’s holding back for a big move.
As for market news, the Ethena project team will have the second quarter airdrop available for claim on September 30, and the third quarter points have already started accumulating, clearly aiming to attract new holders for locking up. Additionally, a whale took out 5.19 million ENA from Binance for full staking, showing long-term optimism.
However, a large wave of unlocks for other tokens is set for next week; although ENA is not on the list, market sentiment can easily be swayed. Overall, this wave of decline for ENA is not over, unless there is a surge breaking through the resistance at 0.38; otherwise, we still need to operate under a volatile downtrend.
Nonetheless, the project's fundamentals are indeed solid, with great long-term potential. At this price level, aggressive investors can consider building positions in batches, while conservative investors might want to wait a bit longer.
I usually share some cutting-edge news and valuable strategies, welcome to discuss ideas and seize this big opportunity together!
#币安Alpha上新 $ENA