🚀 $ENA – Bullish Setup or Bear Trap?
August unlocks sparked big debate as 250M ENA ($100M) hit the market on Aug 5 — yet price held above $0.60.
📊 Why ENA Still Looks Strong:
• USDe supply: $9.3B (3rd-largest stablecoin)
• TVL: $9.47B (6th-largest DeFi protocol)
• Despite whale exits (Arthur Hayes sold 7.76M ENA), demand & volume remain solid
• Double bottom pattern → breakout target $1.32 if $0.70 breaks
📈 Key Levels:
Support: $0.58–$0.60
Resistance: $0.70 → $0.77 → $1.10
Indicators: RSI 62, BB expanding, MACD mixed → momentum building
🔮 Price Outlook:
• Short-term: Break above $0.70 → $0.95–$1.10
• 2025: $0.80–$0.86
• Long-term: $2–$3+ if DeFi growth holds
⚠️ Watch Out:
If $0.58 fails, retest at $0.48 (July support)
👉 ENA’s on a knife-edge: explosive breakout or deep retrace?
#ENA #DeFi #CryptoTrading #USDe #BullTrap
