Crypto analysts are bullish on the future of ENA, an Ethereum-based decentralized finance (DeFi) token.
ENA: Patience Pays Off
Pseudonymous trader The Flow Horse believes ENA is poised for a significant rally. He notes that the token’s governance token has been undergoing a pullback, similar to other new altcoins. However, he sees a “reliable diagonal breakout setup” for ENA.
Fibonacci Retest
Another analyst, Altcoin Sherpa, expects ENA to continue its upward momentum after retesting the Fibonacci retracement level at $0.76.
Altcoin Market Outlook
Rekt Capital, another pseudonymous trader, is optimistic about the altcoin market as a whole. He believes the OTHERS chart, which tracks the market cap of cryptocurrencies excluding the top 10, is poised for a bounce off the $250 billion level.
ENA’s Current Value
At the time of writing, ENA is trading at $0.885, up 8% on the day.
