Before the interest rate cut, is ENA worth buying?
After the implementation of the GENIUS Act, $ENA took the opportunity to launch the compliant product USDtb, while the US shell company TLGY raised $360 million for daily buybacks of ENA, indirectly opening up traditional funding channels.
ENA has a price correlation of over 80% with $ETH . With Ethereum leading the altcoin rally last week, ENA became the preferred target for capital overflow, with its gains outpacing competitors like LDO. Whales have increased their holdings by over 30%, and exchange reserves have not significantly increased, indicating that large funds are optimistic.
Although ENA has been dragged down a bit by the broader market, Feng Ge has also taken the opportunity to short with his loyal fans. However, Feng Ge remains very optimistic about this coin in the long term. It’s almost time to close the short and look for a position to go long.
Talking about the technical side, the current 0.62 has become the bull defense zone. If it breaks through 0.65, it will open up the space of 0.76-0.93.
As for specific operational strategies, I will share them publicly next. If you want to catch the bottom of mainstream coins but don’t know how to start, and if you’re unsure when to ambush altcoins, then you should follow Feng Ge's steps!!!
