The well-known cryptocurrency analyst il Capo of Crypto commented on the recent price drop of the Ethena (ENA) token and shared his outlook on the market.
Analyst's Predictions for ENA
In January, when the Ethena (ENA) price was trading at around $0.90, il Capo predicted that the token could rise to $1.33 after falling to $0.80.
Price Decline and Current Status
However, following this statement, the cryptocurrency market experienced a sharp decline, and the ENA price fell to $0.50. The analyst noted that the next support is expected at $0.40, but his plan for ENA to rally to its all-time high in the upcoming weeks remains unchanged.
Overall View on Cryptocurrency Market
Sharing comments on the overall state of the cryptocurrency market, il Capo argued that an additional decline of 5% to 10% should not be feared.
Despite the current decline in the ENA token's price, the analyst remains confident in the potential for recovery and the achievement of new highs.
