ENA’s price is struggling against resistance at $0.38. With recent whale activities and large inflows, the market exhibits significant selling pressure. A critical factor remains whether whale support can absorb the current downward momentum.
Around 64.36% of ENA holders are presently out of the money, reflecting market volatility. The disparity between large inflows and even larger outflows suggests a concerning balance between buying and selling activities impacting potential recovery for ENA.
Navigating the resistance zone at $0.38 is essential for ENA’s potential breakout. Lower consolidation may lead to additional opportunities but requires enhanced whale involvement and positive sentiment to leverage upward movements in price.
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