🔍 $ENA /USDT – “Calm Before the Catalyst: Ethena Coils for the Next Expansion” 🌀🔓

Market Breakdown | July 23, 2025 – by Crypto Journey1

$ENA is currently trading at $0.4815, almost unchanged over the last 24 hours (–0.04%). At first glance, it may seem uninteresting — but beneath this sideways action lies a coiled spring setup, typical of assets preparing for a sharp move.

📊 Structural Snapshot

Price compression is forming between $0.4730 and $0.4850, creating a tight volatility box on the 4H timeframe — a classic setup that often precedes an explosive breakout.

Volume has been declining steadily — a sign of market indecision, but also fuel being stored for the next directional move.

200 EMA on the 4H sits just below price (~$0.4700), acting as a dynamic support zone that has held since the July 17th rebound.

Bollinger Bands are at their tightest levels in 10 days — suggesting an imminent volatility expansion.

🎯 Trade Setup – “Volatility Squeeze Play”

Entry Zone: $0.4780 – $0.4825

(Inside compression range, with minimal slippage risk)

Stop-Loss: Below $0.4695

(Under structural support + 200 EMA)

Target 1: $0.4950

(top of prior range, likely hit on breakout)

Target 2: $0.5090

(measured move from range width)

Extension Target: $0.5250

(high-conviction breakout path if bulls step in hard)

🧠 Interpretation

This is not a “momentum play” — this is a liquidity compression setup. When price behaves this quietly, two things are usually happening:

Smart money is positioning silently, and

Retail traders are asleep at the wheel.

Watch for a decisive candle close above $0.4860 with volume — that’s your breakout trigger confirmation. Failing that, a flush below $0.4700 could trap weak longs before reversing sharply upward.

Summary:

$ENA is preparing — not pausing. It’s moments like these that test patience, but reward readiness. The catalyst may not be obvious yet, but the chart structure is loud and clear.