$ENA

Technical Analysis ENA/USDT

👉Ethena - L2 project on the ETH network, primarily focused on creating a stablecoin USDe that generates yield through investing in US dollars or ETH.

The price is currently moving sideways. In early July, we saw a strong breakout above the upper limit, followed by a sharp decline, coinciding with the Federal interest rate expectations on July 4 and 5. Now, we have a local downtrend📉, as it is trading below the 0.5 level of the consolidation range.

+The correlation of ENA with Bitcoin is still high over the past 30 days (0.78)🔼

We plan to open a sell position at market price and place limit buy orders up to $0.26 in case of an upward movement.

👉 Targets: $0.2513, $0.2477, $0.2452.