ENSO The Trend: Deeply bearish in the short term. After peaking at $2.22, the price has crashed roughly 34% in the last 24 hours.
Price Action: We are seeing a series of "lower highs" and "lower lows." The price attempted a small bounce around $1.50 but failed, leading to further consolidation near the current $1.35 level #ENSOUSDT
Support & Resistance:
Immediate Support: $1.26 (the recent 24h low). If it breaks this, the "floor" could drop further.
Immediate Resistance: $1.50 - $1.60. The bulls need to reclaim this area to stop the bleeding.
Technical Indicators
RSI (Relative Strength Index): Currently at 42.06. This is in neutral-to-weak territory. It isn’t "oversold" enough (typically below 30) to guarantee a bounce, but it shows the buying momentum has completely evaporated.
Volume: The volume bars at the bottom show a massive spike during the crash, which indicates heavy selling pressure. The current volume is thinning out, suggesting the market is indecisive or waiting for the next big move.
The "Reality Check"
When a coin drops this fast after such a vertical climb, it’s often a "falling knife."
Longing right now is risky because there is no confirmed reversal pattern yet.
Shorting is also risky because the price is already down significantly, and a "dead cat bounce" (a temporary recovery) could liquidate late short-sellers #WhoIsNextFedChair #Mag7Earnings $ENSO
