• Ethena (ENA) has damaged above the parallel channel help line.
• Analyst Ali Martinez stated ENA must recuperate $0.86 and use it as help.
• If $0.86 shouldn’t be recovered, ENA might be susceptible to falling to $0.69 and even $0.57.

ENA, the native token of artificial greenback protocol Etena, is dealing with important bearish strain regardless of the general market restoration, based on crypto analyst Ali Martinez. He warned that if ENA is unable to regain vital worth ranges, a significant worth collapse might happen.

In a publish on X (previously Twitter), Martinez highlighted that the ENA token has exited the parallel channel. As proven within the picture beneath, the higher pattern line acted as resistance and the decrease pattern line supplied help. This bearish breakout alerts potential draw back momentum for ENA.

This breakout might be a fakeout, so merchants ought to look ahead to affirmation. Nevertheless, ENA nonetheless faces the chance of a worth correction to $0.69 and even $0.57. To keep away from this, ENA ought to regain the $0.86 help degree and goal $1.

At present, ENA is buying and selling at $0.8201, up 1.68% up to now 24 hours. Its market capitalization is $2.48 billion, rating it forty seventh on this planet.

The article ENA Worth Prediction: Bearish Breakout Level to $0.57 Danger appeared first on Coin Version.