According to the external analysis, Ethena (ENA) and Bittensor (TAO) have shown a stronger price in the recent past, but both have come to a more critical position. TAO has risen to the vicinity of the previous resistance band, and ENA continues to move after breaking through the long-term cleanup. According to the article, the subsequent ability to hold the existing space will determine whether the rebound will continue.
TAO tests between $240 and $255
According to the article, TAO had previously rebounded from an area of $190 to $200, the latest of which was approaching $255. The current focus of market attention is in the range of $240 to $255. The area, which had previously been supported and subsequently turned into resistance, was also close to the downward trend line in the preceding period, creating a more intense area of pressure.
From the technical indicators quoted in the text, the relatively strong and weak TAO indicator has risen to a high level, indicating increased purchasing power. Unstabilized contracts also rose to about 17.73 million, reflecting a simultaneous increase in market participation as prices rebounded.
If the price can continue to stand at $240 and break the trend line above, the article suggests that the market focus could turn to the 280 to $290 area, followed by more resistance near $300.
ENA breaks through the long-term assembly platform.
On the other side, the ENA has broken between 0.12 and 0.13 dollars. According to the article, this area, which has constituted a clear repression since February this year, is now in the vicinity of about 0.15 dollars, indicating an improvement in the short-line structure.
It is also mentioned that 50 days of the ENA and 200 day mean lines are approaching the formation of a gold fork. At the same time, the Chaikin Money Flow indicator rose to about 0.14, indicating an improvement in the flow of funds over the previous period and a rebound in buyer power.
Stable follow-up
According to the article, the ENA follow-up needs to be secured above US$ 0,1818 to make it possible to further open space between the US$ 0.2582 resistance zones. By contrast, the key to TAO is to re-engineer the $240 zone.
Overall, the review argues that there are some signs of repairing the movement of both tokens, but that the continuation of the rebound will depend on the price remaining stable at the critical resistance level. Short-line highs alone are not enough to confirm that a more complete upward trend has developed.