Ethena Analysis
$ENA has been moving in a range between $0.32 and $0.38, which looks like a potential accumulation or support zone. Price has bounced multiple times within this area, suggesting that buyers might be stepping in.
This kind of sideways movement with repeated rejections to the downside often signals that smart money could be quietly accumulating before a possible breakout. If ENA can hold above this range and break through $0.38 with strong volume, it may confirm bullish momentum.
However, a clear break below $0.32 would invalidate this idea and could signal further downside. Keeping an eye on how price reacts near the edges of this zone is key.
