ENA at Support – Is Ethena Still Alive?

📉 ENA at Support – Is Ethena Still Alive?
ENA is hovering around key support, and traders are watching closely. With Ethena's synthetic dollar (USDe) promising yields and major backers like Binance Labs, Fidelity, and Wintermute, the project still has institutional weight. But with the current downtrend, the question remains: Is ENA set for a bounce, or is confidence fading?

📌 Current Market Stats (From CoinMarketCap):
🔹 Price: $0.4139 (-7.56%)
🔹 Market Cap: 1.29B
🔹 Trading Volume: 192.93M (High liquidity)
🔹 ATH: $1.52 (-72% from peak)

📉 Key Levels to Watch:
🟢 Support Zone: $0.40 - $0.35 → Holding here could trigger a bounce
🔴 Break Below: $0.30 → Potential deeper sell-off
🚀 Upside Target: $1.10 resistance if bulls step in

💡 Is Ethena Still Alive?

Strong Backing: Big-name investors are still involved
High TVL (6.7B) shows capital is locked in
Market sentiment is shaky, but its synthetic dollar (USDe) is gaining adoption
🔮 Verdict?
ENA looks oversold, and if support holds, a short-term reversal is possible. But if this level fails, expect further downside.

💬 What’s your take? Is this an opportunity or a trap? Let me know your thoughts below!

One Love,
The FXPROFESSOR 💙