The cryptocurrency (Ethena) #ENA has been experiencing a recent decline.
It has had a decrease of 24% from its recent high, which has led the price to be around 0.68 US$. This drop has tested the 50-day exponential moving average (EMA), indicating an increase in downside risks.
Despite the decline, there has been robust trading activity, but the token has recorded an intraday low of 0.6546 US$ on Friday, suggesting that investors are being cautious.
#Ethena is close to its annual low, which means it is approaching an important support level that has marked its price throughout the year. This may create uncertainty among investors.
Despite the decline, some prominent investors have increased their holdings, which could be indicative of confidence in the long-term project, but it may also generate short-term volatility.😊
Those of us with #ENA must be patient, let's hope it rises, it is a coin that has not disappointed me so far.😉😊😇