Foreign media analysis suggests that Ethena ( ENA ) and Bittensor ( TAO ) have seen a strengthening in price performance recently, but both have reached more critical levels. TAO has risen to near the previous resistance zone, while ENA continues to climb after breaking through the long-term consolidation range. The article believes that whether they can maintain their current ranges in the future will determine whether the rebound can continue.
TAO Testing the range from $240 to $255
The article states that TAO has previously rebounded from the $190 to $200 range and has now approached $255. The current focus of the market is on the $240 to $255 range. This area was once a support level, but later turned into a resistance level, and it is also close to the previous downward trend line, thus forming a relatively dense pressure zone.
Judging from the technical indicators cited in the text, the relative strength indicator of TAO has risen to a relatively high level, indicating that the buying momentum has strengthened. The number of open contracts has also increased to about 173,000, reflecting that market participation has increased simultaneously during the price recovery process.
If the price can continue to stay above $240 and break through the upper trend line, the article suggests that market attention may shift to the $280 to $290 range, followed by stronger resistance around $300.
ENA Breaks through the long-term consolidation platform
On the other hand, ENA has broken through the $0.12 to $0.13 range. The article states that this area has been under significant pressure since February of this year, and currently the price is around $0.15, indicating that the short-term structure has improved compared to before.
It is also mentioned in the text that the 50-day and 200-day moving averages of ENA are approaching each other to form a golden cross. At the same time, the Chaikin Money Flow indicator has risen to around 0.14, indicating that the inflow of funds has improved compared to the earlier period, and the buying power has rebounded.
Continue to pay attention to the stability of the situation in the future.
The article argues that for ENA to have the potential to further break through towards the resistance range of $0.2582, it is necessary to maintain levels above $0.1818 in the subsequent period. In contrast, the key for TAO lies in whether it can once again turn the $240 area into a support level.
Overall, this commentary article suggests that both tokens show signs of recovery in their trends. However, whether the rebound can continue depends on whether the prices can remain stable above key resistance levels. A short-term surge alone is not sufficient to confirm the formation of a more complete upward trend.
