0.688 defense line of long and short battles is in full swing! Whale bets 20.5 million USD on the breakthrough, and the winner will take all!

Recently, ENA has emerged in the cryptocurrency market, becoming the focus of many investors. Today, let Long Ge deeply analyze the trend of ENA from the technical and latest market news perspectives, exploring the investment logic behind it.

Heavy news bomb:

On September 6th, according to Lookonchain monitoring, a whale address starting with 0x9e8b that made over 14.5 million USD profit on Hyperliquid made a large bet on ENA three hours ago, with a position size of 27.9 million ENA. This is not an ordinary signal; this is big money in action!

Technical analysis:

From the 1-hour candlestick chart, the current price of ENA is running above the moving average system, with short-term bulls in a dominant position.

The RSI indicator is at 54.66; although it has not entered the overbought zone, it also shows that bullish strength is still accumulating.

Key positions are very clear:

Resistance level: 0.765 (breaking here will open up upward space)

Key level: 0.688 (current dividing line between long and short; it must be held to continue the strength)

Support level: 0.607 (if it breaks, caution is needed in the short term)

Currently, the price is fluctuating around 0.732, and trading volume has also increased, indicating extremely high market attention.

Long Ge's viewpoint:

The entry of the giant whale is definitely not a coincidence!

This releases two signals:

First, there is a strong bullish outlook on ENA's future, and second, short-term liquidity may be driven.

Combining technical aspects, if the price stabilizes above 0.688, and the RSI is not overbought, there is still upward space.

But! I have to say, however—cryptocurrency market changes happen extremely fast; we can have the soup while the giant whale eats the meat, but don’t rush blindly.

Especially if the price cannot stabilize above 0.765, there may be a short-term pullback for liquidation.

Operating strategy:

Aggressive: If it breaks 0.765 and stabilizes, you can follow up with a light position, targeting the previous high of 0.78–0.80 area.

Conservative: Re-enter if it retraces to 0.688 without breaking, with lower risk and more stability.

The cryptocurrency market is full of opportunities and challenges, and ENA's future trend is full of uncertainty. To continue making profits in the market, one needs to keep learning, analyzing, and summarizing. Follow Long Ge, and I will bring you more in-depth analysis and exclusive insights into the cryptocurrency market, helping you take fewer detours on the investment path and achieve wealth appreciation. #加密市场回调