Cryptocurrency analyst il Capo of Crypto shared his latest assessment following the deep decline in an altcoin that he had previously spoken in favor of bulls in his latest statement.
While the Ethena (ENA) price was trading at around $0.90 in January, il Capo predicted that the token could climb to $1.33 after falling to $0.80.
On the other hand, after this statement, there was a sudden decline in the cryptocurrency market. Currently, the ENA price has fallen to $ 0.50.
CoinMarketCap chart showing the decline in ENA price over the past month.
The analyst argued in his latest statement that the next support level for the ENA price is $0.40 in the current situation. Despite this heavy decline, il Capo stated that his plan for the ENA price has not changed and that he expects a rally to the all-time high in the coming weeks. The all-time high price level for ENA is at $1.52.
Sharing comments on the cryptocurrency market in general, il Capo argued in his statement that an additional decline of 5% to 10% should not be feared.
*This is not investment advice.
