ENA · Market structure
Ethena market structure on the 1h, 4h and daily charts, recalculated every hour from closed Binance perpetual candles, plus Finora’s latest published AI chart reads of Ethena.
Last updated: 2 November 2026, 06:20 UTC
Calculated from closed candles of the Binance ENAUSDT perpetual, last price 0.17956.
| Chart | Trend | Last swing high | Last swing low | Trend flips on | RSI 14 |
|---|---|---|---|---|---|
| 1h | Bearish | 0.19065LH · | 0.17869LL · | Close above 0.19065turns it bullish · 6.18 percent away | 36.7 |
| 4h | Bearish | 0.21790HH · | 0.16567LL · | Close above 0.21790turns it bullish · 21.35 percent away | 43.9 |
| Daily | Bearish | 0.22608LH · | 0.17430LL · | Close above 0.22608turns it bullish · 25.91 percent away | 42.6 |
Summary built from the table The 1h, 4h and daily trends are all bearish. The 1h trend turned bearish with a close below 0.19341 at 21:00 UTC on 29 Oct, the 4h trend with a close below 0.19452 at 08:00 UTC on 24 Oct, and the daily trend with a close below 0.19400 on 17 Oct. The 4h higher high does not change that trend: a swing label only compares a high with the previous high, or a low with the previous low, and a trend changes only when a candle closes beyond the last swing. The nearest flip level is 0.19065 on the 1h chart, 6.18 percent from the last price; a 1h close above it would turn the 1h trend bullish.
How it is calculated: a swing high or low needs five candles on each side and is confirmed five candles later, and the trend changes only when a candle closes beyond the last swing, never on a wick. This is the same logic as the trend table on Finora’s chart images. More on reading market structure and invalidation levels, or compare the top 100 perpetuals in the market structure screener.
Bias is bearish on the 4h timeframe, aligned with the daily structure but opposing the weekly bullish trend, so this is a counter-trend move requiring caution and confirmation.
Chart: Binance ENAUSDT.P · From a Finora AI read posted to Finora’s Telegram showcase · Excerpt, AI-generated and educational
1DBullish
1D bullish read
Price sits near 0.17430 after printing a lower low, while 0.22608 remains the trend-flip resistance. Daily and BTC trends are lower, yet weekly structure stays bullish.
The numbers are taken word for word from the published reads of the last three days; the context is a short summary of the words around each number. They describe the chart at the time of each read; they are not live prices or orders.
| Level | Context in the read | Read |
|---|---|---|
| 0.17430 | Price at the time | ENAUSDT.P 1D · |
| 0.22608 | Lower low | ENAUSDT.P 1D · |
The stated bias of the latest read on each timeframe this page has collected since 1 November 2026, with its time.
Short market notes from @Finora_EN, listed by chart and topic; the text is on x.com.
ENA is the governance token of Ethena, the protocol behind USDe, a synthetic dollar. USDe is backed by crypto collateral such as ETH and BTC paired with short perpetual futures positions; the shorts offset price moves in the collateral, which keeps USDe near one dollar.
Ethena earns staking income on part of the collateral and funding payments on the short positions. That ties the protocol to the funding rates that perpetual traders watch: when funding turns negative across the market, the hedge costs money instead of earning it.
ENA started trading in April 2024 with an airdrop to early users. Its supply is capped at 15 billion tokens, with team and investor allocations unlocking over several years, and it trades on spot and perpetual futures markets.
Start with the timeframe you actually trade, then look one step up. The “percent away” figure in the Trend flips on column is how far price was from each level when the table was calculated.
Each published read follows the same checklist: the trend on that timeframe, how it lines up with the daily and weekly charts, where the liquidity sits, the key levels, and the close that would invalidate the idea. How Finora reads a chart explains each step. Treat every number here as a note from the time printed next to it, then check the live chart before you act.
Educational content, not financial advice. The structure data is calculated automatically, the reads are AI-generated, and both can be wrong or out of date by the time you see them. Trading involves risk; you make your own decisions.
