- ENA is moving within a downward trend line, which indicates the continued bearish action when the bulls are unable to retract the resistance at $0.55.
- Analysts observe that poor momentum and dwindling volume have remained in favor of the sellers and the support at around the level of $ 0.41 only provided short-term relief.
- Provided the bearish dominance continues, ENA is likely to revisit $0.36 and even drop to the levels of $0.30-0.28 as their confidence in the purchasers fades away.
The price of $ENA remains under clear downward pressure as selling momentum continues to dominate the daily chart. Despite a brief pause near support, the broader trend still favors the bears.
Descending Channel Restricts ENA’s Price Recovery
Analyst Marcus Corvinus (@CryptoBull009) pointed out that $ENA is moving lower in a descending channel, reflecting more weakening market sentiment. The token is currently trading around $0.41, showing some signs of relief temporarily near the lower bounds of the channel.
This area may give rise to a short corrective bounce in the range between $0.46 and $0.52, with the upper trendline of the channel and the 200-day EMA also moving there. However, Corvinus was clear that the outlook remains bearish overall and that even if $ENA were to bounce, the anticipated recovery may not result in the strongest candles unless the price were to close above $0.55.
As the token has repeated lower highs, this confirms that selling pressure is quite strong, and with volume fading during the market bounces, this is essentially signaling waning buyer sentiment. If the bears re-enter here, $ENA would then be attacked for an overall target down to $0.36 and if support fails to hold, more deeply to targets around $0.30 and $0.28.
Loss of Key Support Deepens Bearish Sentiment
Market analyst Umair Crypto pointed out that $ENA recently lost its $0.46 support level following a failed attempt to retest the 200-day SMA.The price fluctuated above the RSI trendline for a short period of time and was unable to stay above RSI 50 and close above the 200SMA.
This technical breakdown caused a result of 22% decline from $0.47 to $0.37 indicating the overall bearish momentum’s strength. Umair highlighted that the token is now resting at the last range’s point of control (POC), although volume patterns are signaling drying up buying interest.
Umair also highlighted that in bearish trends, consolidation above support is generally followed by breakdown rather than bullish reversal. If price trend and volume patterns hold, the next important area to be found would be between $0.29 and $0.30 where the value area low is from the last range.
Downtrend Persists Despite Temporary Support Stabilization
The broader chart structure of $ENA/USDT continues to indicate weakness, with market sentiment leaning heavily toward sellers. It is always possible for short-term relieve rallies to take place but, thus far, they have shown weak to moderate strength without extreme bullish strength, and the price often fades very near moving average resistance.
Momentum indicators make it clear that selling pressure dominates most recovery attempts, while declining volume indicates that the severity of bullish conviction is weak. The overall bias, unless broken above the downward sloping / descending channel into sustained bullish momentum, will be bearish.
With both technical analysts offering cautionary tones, the outlook for $ENA remains weak.. Temporary support may offer minor rebounds, but the dominant trend continues to point toward further downside risks.
