• Esena will unlock the 94.19m ENA token on Could 2nd.
• RSI and MACD recommend short-term optimism, however assist close to $0.3193 is underneath strain
• The second unlock on Could fifth releases the 171.85m ENA, rising worry of Cascade’s gross sales strain

ENA, the native token of Ecena, is going through severe bear pressures that may form the worth forecast for the unlocking of huge tokens deliberate for Could 2, 2025. The discharge of 94.19 million tokens (0.63% of whole provide) is a crucial issue affecting ENA’s latest market outlook.

The unlock estimate is $30.3 million, reaching 1.7% of the ENA market capitalization. Unlocking tokens usually introduces a brand new provide into the circulation.

Following the unlock on Could 2, a good greater unlock will happen on Could 5, with 17185 million ENA (1.15% of whole provide) valued at $55.28 million or 3.09% of market capitalization. These serial releases elevate severe issues about short-term gross sales pressures.

Technical Evaluation: Combined Sign Cloud ENA Value Outlook for Could 2nd

From the latest low of $0.3018 to the native highs from $0.3253, the ENA bouncing and bounced precisely on the 0.618 degree ($0.3108), the important thing zone that always marks sturdy assist.

The value is presently buying and selling at $0.3217, indicating a modest restoration at $0.3193, near the 0.236 retracement degree. Nonetheless, if you cannot get again $0.3253, your native prime will likely be confirmed, and the draw back will ship you extra sign.

The relative power index (RSI) studying is 54.34, a impartial degree indicating impartial ranges for worth motion in both route. RSI has been getting larger not too long ago. This might discuss with short-term buying actions that might be related to unlock occasions or broader reduction rallies.

Associated: Token Unlock Calendar Could 2025: Necessary Dates for White Bit, Sui, Pyth, Aptos

Moreover, the MACD line is crossing above the sign line and the histogram bar is popping inexperienced. This crossover might recommend steady upward momentum, however the MACD remains to be hovering across the zero line. In different phrases, momentum will not be sturdy sufficient to rule out inversions.

ENA Value Prediction: Could 2nd Submit-Unlock State of affairs

With a $30.3 million token circulating on Could 2nd, a giant wave comes simply three days later, permitting market contributors to preemptively promote or keep away from aggressive lengthy positions.

Necessary draw back state of affairs on this ENA worth forecast: If tokens fall beneath $0.3193 after unlocking on Could 2, a transition to $0.3108 (0.618 FIB) or $0.3068 (0.786 FIB) is extra probably.

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In the meantime, when market sentiment is retained and consumers take in unlocked provide, the ENA can regain the peak of $0.3253. A breakout above this degree might open the door to travelling over $0.335.