en.bitcoinsistemi.com
One of the most well-known analysts in the cryptocurrency world, il Capo of Crypto, spoke after the huge depreciation of Ethena ($ENA), which he recently expressed in favor of the bulls.
In his statement on February 6, il Capo said that the $0.4 level was support for the $ENA price and that he expected it to bounce from there. He also claimed that the ongoing declines at that time did not change his plan for “a new all-time high price level in a few weeks.”
The $ENA price has been on a downward trend since the analyst’s statement and is trading at $0.28 at the time of writing. The token has lost 27% of its value in the last month.
il Capo said that he has received many questions following the drop in $ENA prices. The analyst said that he considers $ENA as a medium-term investment and therefore plans to hold it until around August-September. However, he added that this plan could change.
The analyst claimed that the $ENA price has formed a large range. He argued that the bear trend is currently oversold and that a jump to between $0.50 and $0.55 would be logical. The analyst added that after this region, a final capitulation event could occur.
*This is not investment advice.