Ethena (ENA) appears to be in its distribution phase, with the final legโUTAD (Upthrust After Distribution)โlikely forming soon. This move could take shape either as a rejection at the highlighted resistance zone or as a liquidity grab above previous highs. Traders should carefully observe market reactions before confirming the direction.
๐ Market Insight
The distribution structure is nearing completion, and price action around resistance will determine whether ENA enters weakness or extends higher temporarily.
๐ Trading Strategy
Monitoring the highlighted resistance zone is key. Once UTAD completes, profit-taking opportunities may arise during the SOW (Sign of Weakness) as price revisits support.
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