๐Today, I want to analyze the Ethena(ENA) project. Ethena(ENA) started to increase after the news "Ethena Labs' USDe Increases Rewards to Users by 50%". Now we want to see if Ethena(ENA) continues to increase or notโ๏ธโ
๐What is the Ethena(ENA)โ๏ธโ
๐ธEthena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money that is not reliant on traditional banking system infrastructure, alongside a globally accessible dollar-denominated savings instrument โ the 'Internet Bond'.
โ Ethena(ENA) has responded well to the ๐กPotential Reversal Zone(PRZ)๐ก, and is starting to fall.
๐กAlso, Regular Divergence(RD-) can be seen between two successive peaks.
๐According to Elliott's wave theory, Etna seems to have completed the main wave B with a Zigzag(ABC/5-3-5).
๐กLet's look at the ENABTC chart for a better final decision.
๐ENABTC has reacted well to the ๐ดResistance zone๐ด, and I expect ENABTC to go down to at least the support line most likely to be broken.๐
๐I expect Ethena(ENA) to continue falling to the ๐ขSupport zone($1.08-$1.04)๐ข after breaking the Support lines.
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Ethena Analyze ( ENAUSDT), 1-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
๐What is the Ethena(ENA)โ๏ธโ
๐ธEthena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money that is not reliant on traditional banking system infrastructure, alongside a globally accessible dollar-denominated savings instrument โ the 'Internet Bond'.
โ Ethena(ENA) has responded well to the ๐กPotential Reversal Zone(PRZ)๐ก, and is starting to fall.
๐กAlso, Regular Divergence(RD-) can be seen between two successive peaks.
๐According to Elliott's wave theory, Etna seems to have completed the main wave B with a Zigzag(ABC/5-3-5).
๐กLet's look at the ENABTC chart for a better final decision.
๐ENABTC has reacted well to the ๐ดResistance zone๐ด, and I expect ENABTC to go down to at least the support line most likely to be broken.๐
๐I expect Ethena(ENA) to continue falling to the ๐ขSupport zone($1.08-$1.04)๐ข after breaking the Support lines.
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Ethena Analyze ( ENAUSDT), 1-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
์ฃผ๋ฌธ์ทจ์๋จ
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๐if you want to learn Technical Analysis = Please Contact me