🔸 ENA/USDT Technical Analysis – Weak Momentum at the Top? ⚠️
Ethena (ENA) is currently trading near $0.57, after a significant run-up in recent days. However, despite the higher price, the RSI sits at just 33, suggesting that momentum has faded and the market may be entering a cooling-off or correction phase.
🔹 Key Observations:
Price is holding above previous breakout levels ($0.50–$0.52), but with RSI this low, bulls are losing strength.
Volume has also started to decline, indicating less buying pressure.
A possible bearish divergence is forming between price and RSI.
🔹 What to Watch:
Support zone: $0.535–$0.545
Resistance zone: $0.59–$0.60
If price fails to break $0.60 with momentum, a retracement toward $0.52–$0.50 is likely.
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✅ Suggested Entry:
Safer Entry: Wait for pullback toward $0.525–$0.540 with RSI recovery
High-risk Entry: Scalping possible above $0.58, but only with volume confirmation
Stop-loss: Below $0.515
Targets:
TP1: $0.60
TP2: $0.64
TP3 (if trend resumes): $0.68–$0.70
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📊 Strategy Insight:
Low RSI at elevated price levels is a caution flag. If bulls reclaim momentum with volume and RSI recovery above 45–50, continuation is possible. Otherwise, traders should prepare for a healthy correction or range-bound price action.
