EnA's value drops below $0.55, with charts signaling $0.49 as the next significant level of support.
A respected chartist in the crypto space, Ali, posted a trading update on X (formerly Twitter) at 2:24 a.m. UTC on August 3, 2025. The post, which garnered over 14,800 views within 12 hours, has sparked a wave of interest among traders.
The sentiment from traders on X reflects both caution and anticipation. Traders are now looking for evidence of support near $0.49, watching for signs such as bullish divergence or a volume spike. The price action comes amid a growing volume profile imbalance, with the chart's volume-at-price clusters showing trading activity concentrated around former resistance.
The $0.49 level remains critical for ENA's direction for the weeks ahead. ENA has breached a significant horizontal support range, and if it breaks below the $0.49 support level, the next potential downside targets are approximately $0.44 followed by $0.40. A break below $0.49 could accelerate selling pressure and trigger stop-loss cascades, intensifying the downtrend.
Additional context from the analysis includes: the key support zone around $0.48–$0.49 is critical; holding this area could prevent further declines. Below $0.49, the next significant support areas to watch are $0.44 and $0.40, with the possibility of rapid selling if these levels fail. Some sources also mention a possible pullback toward a $0.42 support zone if price slips below $0.54, which aligns with the lower targets below $0.49.
The broader market environment, including tightening monetary policy and weaker sentiment toward speculative altcoins, adds risk to ENA holding key supports, increasing the chance of further downside.
Volume profile bars indicate a dense node between $0.53 and $0.55 previously served as support. The lack of nearby volume could accelerate volatility if ENA hits the $0.45 level. Traders are reevaluating short-term strategies based on price stability below the $0.56 range.
Another user on X noted, "No rush unless $0.49 holds and shows some reaction," suggesting patience in navigating the potential bottom. One user on X remarked, "We cooked hard," referencing the sudden price action. Market watchers expressed concern over ENA's rapid descent on X.
As of August 2, 2025, ENA traded at $0.5428, reflecting a 1.70% loss. Analysts now identify $0.49 as the next key level to monitor closely. The 4-hour candlestick chart shows repeated lower highs and a descending triangle pattern. If ENA falls through the $0.49 support without meaningful buyer interest, the next notable level appears near $0.45.
- Traders are investigating potential signs of support near the $0.49 level, believing that holding this level could prevent further declines, as they contemplating short-term strategies in the cryptocurrency market.
- The increasing interest among traders in the crypto finance space follows a post by a respected chartist, Ali, on X, which discussed the critical importance of the $0.49 level for ENA's future direction, highlighting the role of technology in impacting ENA's price action.
