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As the ENA token is about to be unlocked, market attention to its price trends continues to heat up. It is reported that on August 5, 1.7 ENA tokens will be unlocked, and this event has sparked discussions among investors about potential price fluctuations.
Recently, ENA's market performance has been particularly eye-catching, with its price rising over 17% in the past 24 hours. This strong upward momentum has led many to ponder whether there will be a trend of rising first and then falling.
From a market analysis perspective, the price correction of ENA seems inevitable. However, considering the strategy of the project team, we may see the price initially pushed to around the level of 0.9. If a decline occurs, 0.4 may become an important support level.
For investors participating in contract trading, risk management is particularly important. It is recommended to closely monitor market trends and adjust positions in a timely manner. For spot investors, this may be an opportunity to buy on dips.
It is worth noting that the cryptocurrency market has always been highly volatile, and investors should act with caution, conducting thorough research and risk assessment. Whether it is an unlocking event or other market factors, they can significantly impact the price of ENA.
In this uncertain market environment, it is crucial to remain calm and rational. Investors should develop corresponding investment strategies based on their risk tolerance and investment goals.