$ENA This is a decentralized protocol on the Ethereum blockchain that offers the 'synthetic dollar' USDe. Let's look at the technical analysis of the price of this asset.
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Short-term analysis (based on data from August 2025):
Current situation:
Currently, the price of ENA shows high volatility. After a strong rise in July 2025, driven by the token buyback program, there are now mixed signals.
Trend:
The short-term trend, according to some sources, may be bearish as the price is below the 50-day moving average (SMA). However, there is a strong bullish momentum on the weekly chart, with six 'green' candles in the last eight weeks.
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Support and resistance levels:
Resistance:
The nearest resistance levels are in the range of $0.84 and $1.00. Breaking through these levels could be a strong bullish signal.
Support:
Support levels are at $0.72 and $0.68. If the price falls, these levels may resist further decline. Stronger support, according to some analyses, is around $0.47 and $0.44.
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Indicators:
RSI (Relative Strength Index):
The RSI is in a neutral or even 'weak' zone (around 37), which may indicate that the asset is not overbought and there is potential for growth. However, on longer timeframes, the RSI may be higher, indicating strong movement. There is negative RSI divergence on the mid-term chart, which could signal a possible downturn.
Moving Averages (MA):
The price is below the 50-day SMA, which is a bearish signal.
Volumes:
Low trading volumes are observed, which may indicate a phase of consolidation or anticipation.
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Long-term forecast:
Bullish scenario: If ENA can confidently establish itself above the resistance level at $0.84 and, moreover, surpass the $1.00 mark, the next target could be the $1.10-$1.30 zone.
Bearish scenario:
If the price cannot hold at the support levels and falls below $0.68, it could lead to further declines to stronger support levels, such as $0.44.
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Important factors affecting the price of ENA:
Token buyback program:
News about the continuation or cessation of token buyback programs can significantly affect the price.
Cooperation and partnership:
New partnerships, such as with Pendle, can trigger spikes in interest and price growth.
Overall situation in the cryptocurrency market:
ENA, like other altcoins, is heavily influenced by the dynamics of Bitcoin (BTC) and Ethereum (ETH).
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Disclaimer:
This technical analysis is not financial advice. The cryptocurrency market is extremely volatile. Always conduct your own research (DYOR - Do Your Own Research) and consult with financial experts before making investment decisions.
