$ENA HTF Analysis: Expecting Correction
My higher timeframe chart is telling a clear story, and it's not a bullish one right now. The key support zone that held through April has finally cracked.
The breakdown suggests we're heading into the next major leg down. Using the previous structure, a measured move points to a target zone around $0.1312.
I'm not rushing to short here at the current market price (CMP). A breakdown like this often sees sharp, rallies liquidity grabs to trap eager shorts.
It aligns with the HTF momentum (down) while respecting market mechanics. It prevents me from shorting at a potential local bottom and getting squeezed.
Always trade your own plan. This is mine.
ENA
0.1743
+0.34%