ENA/USDT 🕒 ANALYTICS
👉Ethena - L2 project on 🔹 ETH network, its main focus is creating yield-generating stablecoin USDe through staking USD 💲 or ETH.
Price is currently in sideways movement. In early July we saw a strong breakout above the upper boundary followed by a sharp drop, coinciding with Fed rate expectations on July 4-5. Now we have a local downtrend📉, trading below the 0.5 level of the consolidation range.
+ENA's 30-day correlation with Bitcoin remains high (0.78)🔼
Planning to open a short at market price and place limit orders up to $0.26 in case of upward movement.
👉 Targets: $0.2513, $0.2477, $0.2452