Ethena (ENA) & FET Crash Through Key Support—Can They Defy Gravity & Hit $1 by August 10?
Crypto markets just got interesting—again. ENA and FET shattered critical support levels, leaving traders scrambling. Here's what comes next.
Blood in the Water or Buying Opportunity?
Both tokens now trade in no-man's land after breaking structures that previously held firm. Technicals scream caution, but let's be real—since when has that stopped crypto degens?
The $1 Question
Rebound potential hinges on whether bulls can reclaim lost territory fast. Fail here, and lower lows become inevitable. Succeed? We're talking a 2-3x move to dollar parity—and possibly beyond.
Wall Street would call this 'high-risk speculation.' We call it Tuesday. Either way, grab your charts and popcorn—this week just got spicy.
The impact of the US tariffs does not appear to have faded completely, as the bulls are not keen on pushing the prices back to their initial positions. The Bitcoin price continues to trade below $114,000, despite a minor recovery that has kept the bullish activity on hold. As the ethereum price trades below $3500, the altcoins seem to be in a state of uncertainty, while some have already broken down from the crucial support zone.
After failing to secure an important resistance, the Ethena (ENA) price is fighting to defend the support, while Artificial SuperIntelligance Alliance (FET) price has broken from the decisive pattern. Here’s what to expect from these altcoins in the coming week.
Ethena (ENA) Price Analysis for the Week
- The ENA price has completed the parabolic recovery and is subjected to a correction, which points to a potential cup & handle pattern
- The price tested the local support at $0.52 and rebounded, but it is yet to validate the recovery that could happen once the levels surpass & sustain above $0.61
- The RSI has begun with a bullish divergence, while the volume has remained incremental since the beginning of July
- Therefore, the Ethena price may rise and reach $0.6974 local resistance if it continues to rise, but it may encounter a strong bearish action before surpassing $0.7
- On the other hand, if the bears continue to slash the prices lower, it could enter the support zone close to $0.45 which could attract a significant liquidity and propel prices beyond $0.7 which may further lead to $1
Artificial SuperIntelligence Alliance (FET) Price Analysis for the Week
- As seen in the above chart, the FET price has broken the decisive symmetrical triangle and is heading towards the local support at $0.571
- The supertrend has turned bearish while the RSI has almost reached the lower threshold, which may seem a bearish continuation
- Meanwhile, the RSI is trying to rebound, but it needs to be seen whether it is another lower high, which could be confirmed during the weekend
- Therefore, the FET price is required to rise into the symmetrical triangle and clear the resistance at $0.82 which could place the token at the apex of the consolidation
- Hence, a breakout from these levels may help the price to clear the pivotal resistance at $1 and a sustained rally may hep the FET price to remain elevated
