🚨 Ethena Price Update, A Breakout or Breakdown Ahead?
Ethena ($ENA ) is at a crucial turning point.
After bulls defended the 20-day SMA around $0.54, the price has stabilized but momentum has stalled near the $0.70 resistance zone. This level has now become the line in the sand for short-term direction.
📈 Breakout Potential:
If $ENA pushes above $0.70 with strong volume, it could open the door for an aggressive rally toward $0.82, possibly extending to $0.96 in the near term.
📉 Breakdown Risk:
On the flip side, if price slips below $0.54, we may see a deeper pullback toward the $0.42 support zone.
📊 Watch closely:
ENA is currently trading inside a descending channel. A breakout above resistance could mark the end of the correction phase.
The next few candles could define the next big move.
