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The Green Investor
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🚀 $ENA UPDATE 🚀
Good morning everyone! I hope everyone is doing well today ☘️
1. Introduction
After yesterday's BTC dump, it isn't incorrect to state most tokens here on Binance took a hit to their trends. ENA has been no different. However, unlike other coins, ENA resisted very well, and it looks like ENA is keeping its bullish pace.
To sum up, the possibility exists that all BTC did to us was to send us back in time by 4 days. Yes. Remember when ENA surged above the dollar, and started to follow the previous Bull Channel? It looks like this bull channel still holds, as seen in Image 1 and Image 2.
2. What can be expected?
From my personal indicators, it looks like ENA still keeps the bullish momentum it has been showing us. If anything, the BTC crash helped us having a more healthy Pump and dump indicator.
As seen in Image 1, at the bottom, both the Fast red PDI line and the Lag white PDI line are below the Neutral Threshold of 50. This shows ENA can still gain pump momentum, and no longer needs a correction in for its previous moves.
Open Interest on image 2 is also pretty healthy-looking, and Volume for the new theoretical Blue Channel on image 1 is not unhealthy for an uptrend.
Thus, considering the MACD and RMO 5 minutes on Image 3, we might get a good recovery, with the only indicator showing possible dip from here being the RMO in the 30 minutes scale, which is giving a signal of "overbought".
Finally, on Image 4, the momentum is pushing positive, so we are still going strong and hopefully, we will keep the current uptrend.
3. Conclusions
I will keep you posted if any of my tools detect any change in behavior. Please be careful and set up stop losses when going long especially, because BTC may crash more. Of course, this info is only relevant if you're going to trade.
To those who bought at 0.500-0.800, keep the HODL.
Your time is valued, dear reader. Most of the posts on Binance Square are reposts, AI-generared, quick to make. Change that. Support original, real hard-worked content with a small tip.
Good morning everyone! I hope everyone is doing well today ☘️
1. Introduction
After yesterday's BTC dump, it isn't incorrect to state most tokens here on Binance took a hit to their trends. ENA has been no different. However, unlike other coins, ENA resisted very well, and it looks like ENA is keeping its bullish pace.
To sum up, the possibility exists that all BTC did to us was to send us back in time by 4 days. Yes. Remember when ENA surged above the dollar, and started to follow the previous Bull Channel? It looks like this bull channel still holds, as seen in Image 1 and Image 2.
2. What can be expected?
From my personal indicators, it looks like ENA still keeps the bullish momentum it has been showing us. If anything, the BTC crash helped us having a more healthy Pump and dump indicator.
As seen in Image 1, at the bottom, both the Fast red PDI line and the Lag white PDI line are below the Neutral Threshold of 50. This shows ENA can still gain pump momentum, and no longer needs a correction in for its previous moves.
Open Interest on image 2 is also pretty healthy-looking, and Volume for the new theoretical Blue Channel on image 1 is not unhealthy for an uptrend.
Thus, considering the MACD and RMO 5 minutes on Image 3, we might get a good recovery, with the only indicator showing possible dip from here being the RMO in the 30 minutes scale, which is giving a signal of "overbought".
Finally, on Image 4, the momentum is pushing positive, so we are still going strong and hopefully, we will keep the current uptrend.
3. Conclusions
I will keep you posted if any of my tools detect any change in behavior. Please be careful and set up stop losses when going long especially, because BTC may crash more. Of course, this info is only relevant if you're going to trade.
To those who bought at 0.500-0.800, keep the HODL.
Your time is valued, dear reader. Most of the posts on Binance Square are reposts, AI-generared, quick to make. Change that. Support original, real hard-worked content with a small tip.
Αποποίηση ευθυνών: Περιλαμβάνει γνώμες τρίτων. Δεν είναι οικονομική συμβουλή. Ενδέχεται να περιλαμβάνει χορηγούμενο περιεχόμενο. Δείτε τους Όρους και προϋποθέσεις.
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