One of the most well-known analysts in the cryptocurrency world, il Capo of Crypto, spoke after the huge depreciation of Ethena (ENA), which he recently expressed in favor of the bulls. In his statement on February 6, il Capo said that the $0.4 level was support for the ENA price and that he expected it to bounce from there. He also claimed that the ongoing declines at that time did not change his plan for “a new all-time high price level in a few weeks.” The ENA price has been on a downward trend since the analyst’s statement and is trading at $0.28 at the time of writing. The token has lost 27% of its value in the last month. il Capo said that he has received many questions following the drop in ENA prices. The analyst said that he considers ENA as a medium-term investment and therefore plans to hold it until around August-September. However, he added that this plan could change. The analyst claimed that the ENA price has formed a large range. He argued that the bear trend is currently oversold and that a jump to between $0.50 and $0.55 would be logical. The analyst added that after this region, a final capitulation event could occur. *This is not investment advice.