EthenaEthena is this cycles LUNA (before it blew up). TVL and overalls upport for the protocol increasing steadily. Cup and handle breakout, don't fade the trend.
ENAUSD trade ideas
Ethena _ Downtrend Breakout _ 0.6 Fib is 1st Target +62% PROFITFalling Channel Pattern is Breakout and Uptrend Continuation. 1st Target is the 0.618 Fibonacci level price at 0.70091110 USD. Offering the chance to Achieve +62% Percentage Profit. And 2nd Target is the Downtrend line Top. Offering the potential to Achieve a +149% Percentage PROFIT.
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#ENA/USDT has formed a falling wedge pattern🧐 A successful bre#ENA/USDT has formed a falling wedge pattern🧐
A successful breakout could lead to a bullish wave of 50%✈️
ETHENA looks ready to head up. Bullish.
Ethena has been in a downtrend for some time recently, but technicals are looking up right now. If we can maintain this momentum, and have this IHS play out, we could rip higher to the first profit target shown, then maybe way higher. We will see. Volatility is also very constricted and tight on this cryptocurrency right now.
And as everyone here knows... Low Volatility proceeds by Volatility.
Not Financial Advice. Do all of your own research. For me these are long term holds. Not "Trades". Risk Management still applies. Happy Hunting ; )
ENAUSDTENAUSDT is in strong bearish trend.
As the market is consistently printing new LLs and LHs.
currently the market is retracing a bit after last LL, which is 50% Fib retracement level and local support as well. if the market successfully sustain this selling confluence the next leg lower could go for new LL.
What you guys think of this idea?
$ENA resistance to breakWe almost filled the upside gap
Currently, we can see that 1.36 is acting as the local resistance here
Failure to get above this level, then we may retest ltf demand around 1.16 to 1.12
Invalidation: price gets above 1.36
Local support: 1.24
