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$MSFT #ENASurgesOver15%InADay
ENA just ripped higher on a clear change in tokenomics. The Ethena Foundation announced it is ending monthly VC unlocks and proposing that 95 percent of protocol revenue be used to buy back ENA. The market reacted immediately, sending the token up more than 15 percent in 24 hours to the 0.17 area.
On the daily chart price is currently sitting at 0.16839 after printing a high of 0.18987. The 9-period MA rests at 0.15113 and the 50-period MA is much lower at 0.09717. Bollinger Bands stretch from 0.04732 on the downside to 0.18347 on the upside, with the middle band near 0.11540. Price has already broken above the upper band and is consolidating just below the SRL resistance at 0.18347. That level is the clear near-term ceiling. Support starts at the 9-period MA near 0.151, then the middle band at 0.11540 and the 50-period MA at 0.09717.
RSI has climbed to 76.67, firmly overbought on the daily. MACD remains positive with the histogram still expanding, showing that momentum is intact even after the sharp impulse.
The bullish case is a clean hold above 0.151 and a subsequent break of 0.18347. If the buyback proposal is confirmed and revenue continues to flow into actual purchases, the reduced unlock pressure plus structural demand could keep the higher-high structure alive. In that scenario the entire 0.151–0.115 zone becomes the first support band on any pullback.
The bearish case is a classic post-news rejection. Failure to hold the 0.151–0.160 area on rising volume would likely send price back toward the middle Bollinger Band at 0.11540. A break of that level would open the door to the 50-period MA at 0.09717. After a 15 percent day and with RSI already stretched, some digestion is a realistic risk if the market decides the announcement was fully priced in the first move.
I am treating 0.18347 as the immediate upside pivot and 0.151 as the short-term trend filter. Until the buyback details are clearer and the daily candle structure stabilizes, size stays measured. The end of VC unlocks is a genuine positive, but the chart still has to prove it can convert the news into sustained acceptance above the recent highs.
Are you adding on a break of 0.183, waiting for a retest of 0.151, or already taking partial profits into the spike? Share your levels.
#ENA #Tokenomics $ENA
@Gate_Square
ENA just ripped higher on a clear change in tokenomics. The Ethena Foundation announced it is ending monthly VC unlocks and proposing that 95 percent of protocol revenue be used to buy back ENA. The market reacted immediately, sending the token up more than 15 percent in 24 hours to the 0.17 area.
On the daily chart price is currently sitting at 0.16839 after printing a high of 0.18987. The 9-period MA rests at 0.15113 and the 50-period MA is much lower at 0.09717. Bollinger Bands stretch from 0.04732 on the downside to 0.18347 on the upside, with the middle band near 0.11540. Price has already broken above the upper band and is consolidating just below the SRL resistance at 0.18347. That level is the clear near-term ceiling. Support starts at the 9-period MA near 0.151, then the middle band at 0.11540 and the 50-period MA at 0.09717.
RSI has climbed to 76.67, firmly overbought on the daily. MACD remains positive with the histogram still expanding, showing that momentum is intact even after the sharp impulse.
The bullish case is a clean hold above 0.151 and a subsequent break of 0.18347. If the buyback proposal is confirmed and revenue continues to flow into actual purchases, the reduced unlock pressure plus structural demand could keep the higher-high structure alive. In that scenario the entire 0.151–0.115 zone becomes the first support band on any pullback.
The bearish case is a classic post-news rejection. Failure to hold the 0.151–0.160 area on rising volume would likely send price back toward the middle Bollinger Band at 0.11540. A break of that level would open the door to the 50-period MA at 0.09717. After a 15 percent day and with RSI already stretched, some digestion is a realistic risk if the market decides the announcement was fully priced in the first move.
I am treating 0.18347 as the immediate upside pivot and 0.151 as the short-term trend filter. Until the buyback details are clearer and the daily candle structure stabilizes, size stays measured. The end of VC unlocks is a genuine positive, but the chart still has to prove it can convert the news into sustained acceptance above the recent highs.
Are you adding on a break of 0.183, waiting for a retest of 0.151, or already taking partial profits into the spike? Share your levels.
#ENA #Tokenomics $ENA
@Gate_Square