Technical Outlook: ENA Tests Key Support as Downside Pressure Mounts:



Ethena (ENA) is clinging to the 50-day EMA at $0.6664 heading into Friday, with momentum indicators pointing to a fragile setup. The broader bias appears tilted downward, as multiple signals align against the bulls.

The MACD has held a sell signal since Monday, reinforcing bearish sentiment and encouraging traders to scale back exposure. At the same time, the RSI has slid to 44 from overbought territory at 74 earlier in August, confirming waning momentum and strengthening the downside case.

If ENA loses its grip on the 50-day EMA, traders may shift focus to the 100-day EMA at $0.5852 and then the 200-day EMA at $0.5332, levels that could attract buyers seeking discounted entries.

That said, the 50-day EMA remains an important pivot level. A successful defense here could spark an immediate rebound, setting ENA up for a potential rally back toward $0.8721, the range high.

In short: failure to hold $0.6664 opens deeper downside, while resilience at this level could flip sentiment quickly in favor of the bulls.
#ENA#
#Fed Cuts Rates By 25 Bps#
ENA4.31%
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 9
  • Repost
  • Share
Comment
0/400
GateUser-51649f0cvip
ยท 09-20 10:20
I have been in the trap for a few days, adding more at a high position.
View OriginalReply0
Surrealist5N1Kvip
ยท 09-20 06:01
thank you brother ๐Ÿ’œ๐Ÿ’œ
Reply0
Surrealist5N1Kvip
ยท 09-20 06:01
HODL Tight ๐Ÿ’ช
Reply0
Surrealist5N1Kvip
ยท 09-20 06:01
Ape In ๐Ÿš€
Reply0
Ryakpandavip
ยท 09-20 00:12
Just go for it๐Ÿ’ช
View OriginalReply0
Discoveryvip
ยท 09-19 22:46
Watching Closely ๐Ÿ”
Reply0
Discoveryvip
ยท 09-19 22:46
thank my friend ๐Ÿ‘
Reply0
Discoveryvip
ยท 09-19 22:46
2025 GOGOGO ๐Ÿ‘Š
Reply0
Cryptogethervip
ยท 09-19 20:34
Thank you Asif for information ๐Ÿ™‹
good luck ๐Ÿคž
Reply0
View More
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • ็ฎ€ไฝ“ไธญๆ–‡
  • English
  • Tiแบฟng Viแป‡t
  • ็น้ซ”ไธญๆ–‡
  • Espaรฑol
  • ะ ัƒััะบะธะน
  • Franรงais (Afrique)
  • Portuguรชs (Portugal)
  • Bahasa Indonesia
  • ๆ—ฅๆœฌ่ชž
  • ุจุงู„ุนุฑุจูŠุฉ
  • ะฃะบั€ะฐั—ะฝััŒะบะฐ
  • Portuguรชs (Brasil)