$ENA The last time I wrote it was 0.082, and I said it would lean bearish. Now it’s 0.0864. It’s up 5.4%. And I got slapped in the face again. Admit my mistake and follow the trend.
**I. Candlestick Replay**
The last 6 consecutive 4h candles are broken down one by one:
First candle: 0.08315→0.08200→0.08373→0.08243, volume 124 million coins. After a spike and pullback, it stabilized, with a range of 1,730 points.
Second candle: 0.08242→0.08184→0.08335→0.08284, volume 71.53 million coins. Trading volume shrank, consolidating.
Third candle: 0.08284→0.08261→0.08436→0.08428, volume 106 million coins. Volume surged and broke above 0.084, with a range of 1,750 points.
Fourth candle: 0.08427→0.08412→0.08597→0.08579, volume 157 million coins. Volume pushed higher and made a new high at 0.08597.
Fifth candle: 0.08578→0.08475→0.08755→0.08726, volume 233 million coins. A massive volume breakout above 0.087! Range: 2,800 points.
Sixth candle: 0.08726→0.08532→0.08761→0.08596, volume 217 million coins. After hitting 0.08761, it pulled back; volume stayed supported.
Seventh candle: 0.08596→0.08517→0.08658→0.08621, volume 90.82 million coins. Lower volume consolidation.
Eighth candle: 0.08622→0.08608→0.08662→0.08643, volume 15.02 million coins. Extremely low volume; volatility tightened.
From the 0.07830 low to the 0.08761 high: 10 consecutive 4h candles took 40 hours, with a gain of 11.9%. The lows rose from 0.07830→0.08056→0.08261→0.08412→0.08475→0.08517→0.08608 step by step; the HH-HL structure is extremely bullish.
**II. Technical Indicators**
4h timeframe: EMA9 (0.08495) is above EMA21 (0.08332). Bullish alignment, spacing of 0.00163. RSI14 is 67.98—strong, but not overbought. ADX is 46.3; +DI 25.4 vs -DI 9.3. The trend is extremely strong, with bulls absolutely in control.
**III. Capital Flows**
In the last 24h, trading value is $75.02 million and trading volume is 877 million ENA. Funding rate is 0.005%—low. The price is up 7%, but the funding rate is below 0.005%, suggesting it’s driven by spot.
**IV. Sentiment**
Fear & Greed index is 50—neutral. ENA was lifted from the bottom, but community discussion isn’t very hot. The low funding rate confirms that longs weren’t squeezed. The API long/short ratio is abnormal and can’t be retrieved; based on the funding rate, spot appears to dominate.
On X, there’s little discussion of ENA; the focus is mainly on the Ethena protocol and USDe stablecoin narrative. No KOLs are calling trades.
**V. News/Events**
As a stablecoin protocol, Ethena’s TVL has been growing steadily. No sudden news—price action is driven by technicals.
Whale side: The 0.07830–0.080 range was pulled up quickly, indicating capital accumulating at the bottom. After making a new high at 0.08761, it consolidated on lower volume—chips are being locked in.
**Support & Resistance**
- Support 1: 0.08608 (recent 4h low)
- Support 2: 0.08495 (4h EMA9)
- Support 3: 0.08332 (4h EMA21)
- Resistance 1: 0.08761 (prior high)
- Resistance 2: 0.09000 (psychological level)
**Nini’s Plan**
Current price: 0.0864.
Bias: bullish (long).
Reason: ADX 46.3 shows bulls absolutely in control, lows keep rising, and there was a volume-backed breakout. Last time I was slapped; this time I’ll follow the trend.
Go long: enter on a pullback in the 0.0845–0.0850 area (near the 4h EMA9). Stop loss: 0.0830 (breaks below EMA21). Targets: 0.0876 and 0.0900. Risk/reward is about 1:1.8.
If it breaks above 0.0876, you can chase 0.0878–0.0885, stop loss 0.0865, targets 0.0900 and 0.0920. Risk/reward about 1:1.5.
If above 0.0876 it forms a high-volume long upper wick, it may pull back toward 0.0840. Only as risk-control reference.
**My Take**
I’m bullish. ADX 46.3 indicates an extremely strong trend, lows are rising consecutively, and there was a volume-backed breakout. After getting slapped last time, I learned my lesson and am following the trend. Now that it’s in the 0.0876–0.0900 range, we’ll see whether volume can keep up.
A trend is your friend—don’t guess the top.
#ENA #Ethena #稳定币协议 #spot long