$ENA has experienced a notable decline of 5.07% in the past 24 hours, with a high of 0.3239 and a low of 0.3029, indicating heightened volatility within a downtrending market. The current price resides near the lower Bollinger Band (0.3037), suggesting potential support around 0.3029. This level is critical; a breach could signal deeper losses. Macroeconomic factors, particularly inflation and regulatory news, remain unstable, creating resistance for upward movements. Bitcoin’s influence remains undefined, which complicates correlation assessments. Traders may benefit from a short-term strategy given the current volatility, yet should stay cautious. Key takeaway: Focus on support levels, as they will dictate ENA’s upcoming movements amid the prevailing uncertainty.
