Ethena (ENA): Support and Resistance in the Crypto Market
Ethena (ENA) is at a critical support zone right now. There’s been a hefty accumulation of tokens at $0.3487, but there’s also resistance at $0.6043. It’s a mixed bag, really. Let’s break it down.
Where’s the Support?
According to a Glassnode heatmap chart shared by @ali_charts, ENA has a solid accumulation zone at $0.3487, where 2.71 billion ENA tokens were picked up. This price point is 41.3% lower than the current level, which could act as a sturdy support if the selling continues. Other zones of accumulation can also be found in the $0.30–$0.34 range. These levels show where long-term holders have bought in and might be willing to stick around during a correction. The strongest demand cluster is at $0.35, indicating that long-term…
