- Ethena (ENA) broke away from the help line of a parallel channel.
- Analyst Ali Martinez mentioned ENA must reclaim $0.86 and switch it into help.
- If ENA fails to recuperate $0.86, it dangers falling to $0.69 or $0.57.
ENA, the native token of the artificial greenback protocol Ethena, is going through important downward stress regardless of an total recovering market, in keeping with crypto analyst Ali Martinez. He warns that if the ENA fails to regain a vital worth stage, a significant worth collapse might happen.
In a publish on X (previously Twitter), Martinez highlighted that the ENA token got here out of a parallel channel. As proven within the picture under, the higher trendline acted as resistance and the decrease trendline supplied help. This bearish breakout suggests potential bearish momentum for the ENA.
Merchants ought to await affirmation, because the breakout may very well be a pretend. Nevertheless, ENA nonetheless dangers a worth correction to $0.69 and even $0.57. To keep away from this, ENA should reclaim the $0.86 help stage and goal $1.
At the moment, ENA is buying and selling at $0.8201, up 1.68% within the final 24 hours. Its market capitalization stands at $2.48 billion, rating it forty seventh…
The article ENA Value Prediction: Bearish Breakout Factors at $0.57 Danger appeared first on Coin Version.
