ENS Coin Analysis
1. Chart and Target Prices
• The chart shows that ENS is moving within an ascending triangle formation.
• The breakout of this formation is generally upward and allows the price to reach target levels.
• Target prices:
• First target: 49.99 USD (key resistance).
• Second target: 119.57 USD (exact breakout target of the formation).
2. Support and Resistance Levels
• Supports:
• 42.59 USD (strong support around current price).
• USD 25.91 and USD 16.72 (lower levels, strong support zones).
• Resistors:
• 49.99 USD (first major resistance level).
• 119.57 USD (long-term target).
3. Indicators
• RSI: Supports bullish momentum, but caution is warranted as overbought territory is approached.
• Moving Averages (MA): The price is moving above the long-term moving averages, supporting the uptrend.
4. Formations and Transformations
• Ascending Triangle Formation: Typically carries the potential for a strong upward breakout.
• An upward breakout of the formation may initiate a new rally.
5. Trend Direction
• ENS is clearly in an uptrend.
• The trend is expected to continue with strong volume-supported purchases from the lower regions.
6. Strategy and Recommendations
• Short Term Strategy:
• If the hold above the 42.59 USD level is successful, the first target of 49.99 USD can be tested.
• If this level is broken, the price is expected to head towards higher targets.
• Medium and Long Term Strategy:
• Positions can be gradually increased for the formation's full breakout target of 119.57 USD.
• Zarar Kes (Stop Loss):
• Stop loss should be used in case of sharp breaks below 42.59 USD.
7. Conclusion
• ENS coin has strong upside potential.
• The formation target is 119.57 USD, but volume-supported movements must continue for the price to reach this level.
• Support levels should be followed carefully and the strategy should be shaped accordingly.