$ENA Bullish setup or bearish trap?

August unlocks sparked heated debates when 250M ENA ($100M) hit the market on August 5 — but the price remained above $0.60.

📊 Why ENA still looks strong:

• USDe supply: $9.3B (3rd largest stablecoin)

• TVL: $9.47B (6th largest DeFi protocol)

• Despite whale exits (Arthur Hayes sold 7.76M ENA), demand & volume remain stable

• Double bottom → breakout target $1.32 if $0.70 breaks

📈 Key levels:

Support: $0.58–$0.60

Resistance: $0.70 → $0.77 → $1.10

Indicators: RSI 62, BB expanding, MACD mixed → building momentum

🔮 Price forecast:

• Short-term: Break above $0.70 → $0.95–$1.10