🚨 ENA/USDT: The Pullback Continues! Is Support Holding Strong?

Market Outlook: After a strong performance throughout mid-2025, Ethena (ENA) is currently in a corrective phase, pulling back from its recent highs. The price has retraced significantly, testing key support levels. While the overall long-term trend remains positive, this short-term downward pressure is driven by profit-taking and caution in the broader market, making it a critical decision point for traders.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Wait for a confirmed candle close ABOVE the resistance zone of $0.705–$0.72 on a higher timeframe (e.g., 4H or Daily) with strong volume. This would indicate that the short-term selling pressure is easing. A successful retest of the $0.65 support could also be a potential entry.

💰Targets: $0.74, $0.77, and towards the recent high of $0.80+.

🛑Stop Loss: Below the key support level at $0.65.

🟥 Short Entry Trigger: Consider a short if the price shows a strong rejection at the $0.705–$0.72 resistance and breaks BELOW the crucial support level of $0.65 on a higher timeframe.

💰Targets: $0.62, $0.60, and lower towards previous accumulation zones.

🛑Stop Loss: Above the recent swing high or above $0.71.

Your Action Plan:

01 - Wait for Confirmation: Do not rush into a trade. Patience is key. Wait for a clear, high-volume breakout or breakdown confirmation before taking a position.

02 - Use a Stop-Loss: Always protect your capital. A stop-loss is essential, especially with a volatile asset like ENA, which has seen significant price swings.

03 - Manage Your Risk: Consider position sizing appropriate for your risk tolerance. Do not over-leverage, especially on breakout trades.

📢 What are your thoughts?

Vote: Do you think ENA will bounce off support and continue its rally, or will it break down further?

Bounce and Resume Rally!

Break Down Further!

Comment: Share your analysis below!