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⛳️ Lets dive into a Ethena analysis.
⭐ ETHFI on the daily timeframe broke above the $0.4640 resistance level with increased buying volume and moved toward its next resistance. The price is currently trading just below the weekly resistance at $0.6197.
⛏ The recent bullish move has been accompanied by increasing buying volume, and the price has now formed a higher low at $0.5217 compared to its previous low.
✅ If buyers manage to break above the $0.6197 weekly resistance, the price could continue moving toward the next weekly resistance level.
👍 However, if the price fails to break the current weekly resistance and gets rejected back toward the $0.5217 low, losing this level could lead to a decline toward the $0.4640 daily support level.
⚠️ Risk management and capital management are essential in trading. Always trade based on your own strategy and risk tolerance. Every trading decision and its outcome are entirely your own responsibility.