ENA's life-or-death battle today! $0.64 becomes the watershed between bulls and bears, which side are you on?
ENA is currently oscillating in the $0.61-$0.62 range. The 4-hour candlestick chart shows that the bulls are still exerting force, but the strength is weak. Key support levels of $0.6393 and $0.2303 form a double defense line, and a break below may trigger a chain sell-off; the upper resistance level of $0.8558 is the key to a breakthrough, and only by gaining a firm foothold can the upward space be opened.
Technically, the MACD histogram is slightly upward but lacks momentum, and the RSI index of 64.64 is close to the overbought area, which may lead to a short-term callback; the bullish arrangement of moving averages shows that the medium- and long-term trend has not deteriorated, but the Bollinger Bands have narrowed to the $0.63-$0.65 range, indicating that a direction will be chosen soon. A transaction volume of 13.8 million lots shows market activity, but an estimated transaction amount of $240 million suggests that the participation of funds is limited.
News is polarized: on the project side, ENA's launch on Binance's new coin mining attracted funds, and large investors such as Arthur Hayes have recently increased their positions; however, the price performance is weak, falling by 2.97% in 24 hours, and the community is worried that the "car is too heavy" to pull up. Exchange dynamics show that ENA's trading volume has surged on platforms such as Bitget and Hibt, but large investors are frequently adjusting their positions, so be wary of short-term fluctuations.
Personal opinion: I am bullish on ENA in the medium and long term, but $0.64 is the line between life and death in the short term! If you hold it, you can try to go long with a light position, with a target of $0.7; if it falls below $0.6393, retreat directly and wait to pick it up near $0.5. Don't chase the rise in operation, give priority to waiting for a callback, and at the same time keep a close eye on the capital flow of large investors and project progress. The currency circle is never short of opportunities, what is lacking is patience!
