ENA/USDT: Consolidation at the Bottom, Ready for a Rebound? 🚀
Hello traders! AltcoinRadarID here brings the latest update for pair $ENA .
After experiencing significant selling pressure, the price appears to be starting to form a base at the lower area. Here’s the technical breakdown:
📊 4H & 1H Chart Analysis:
Tested Support: Level 0.1589 has proven to be a solid support to hold the price from falling deeper.
Momentum Reversal: The MACD indicator has shown a slight Golden Cross with a green histogram starting to appear, indicating early accumulation.
RSI: Still held in the range of 39.4 - 39.7, providing ample room for price increase before hitting the overbought zone.
🎯 Trading Strategy (Long Setup):
For those looking for rebound opportunities, pay attention to the following confirmation levels:
Entry Area: 0.1630 - 0.1690. The best confirmation is when the price can break and retest above MA(20).
Risk Strategy: Split your entry, max 2-3% per portion.
Target Profit: First target at 0.1750 (MA50 Area), followed by 0.1840 as key resistance. TP3: 0.1870
Risk Management: Set Stop Loss at 0.1570. Considering its volatility, it is highly recommended to use wise leverage (don’t FOMO with 50x if the margin is not sufficient!).
Conclusion:
ENA is in a phase of determination. If it can hold above the current psychological level, the potential to reach 0.1800+ is wide open.
What are your plans for ENA this week? Hold or just Scalping? Share below! 👇