ENA/USDC: Short-Term Rally or Temporary Spike?

Ethena (ENA) has surged by over 17% in the past 24 hours, reaching a high of 0.4570 USDC. Technical indicators show a short-term bullish trend, but signs of slowing momentum suggest caution. If ENA breaks above 0.4570 USDC, we might see further gains towards 0.48–0.50 USDC. However, failure to hold above 0.43 USDC could lead to a pullback to around 0.40 USDC.

📊 RSI indicates a near overbought condition, and MACD shows positive momentum with signs of slowing. Traders should watch for a confirmed breakout or potential reversal.

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⚠️ Disclaimer: This is my opinion and not investment advice. Always assess the risks and conduct thorough research before trading.