$ENA Price Action and Analysis.

Recent Event:

A short liquidation of $47,368 occurred at $1.12819.

This indicates that many traders betting on the price going lower were forced to close their positions.

This could suggest a bullish sentiment in the short term, as shorts being liquidated often trigger buying pressure.

Key Zones to Watch.

Buy Zone:

A good buy zone is between $1.100 - $1.120. This range acts as strong support and provides an ideal risk-reward entry point if the price dips slightly.

Target Levels:

1. Target 1: $1.150 (Short-term resistance, ideal for partial profit-taking).

2. Target 2: $1.180 (Next significant resistance).

3. Target 3: $1.200+ (Psychological level and breakout potential).

Stop Loss:

Place a stop loss at $1.085 to minimize risk in case the price drops unexpectedly.

This is below a strong support level, ensuring protection from further downside.

Trading Strategy.

1. Enter Gradually: Use a dollar-cost averaging approach to enter the buy zone.

2. Risk Management: Do not risk more than 2-3% of your trading capital on this position.

3. Watch Market Sentiment: Keep an eye on overall market conditions, including Bitcoin's performance, as it heavily influences altcoins like ENA.

What to Expect Next.

Scenario 1: Bullish Continuation

If buying pressure increases, the price could rally past $1.150 toward $1.180 or higher.

Watch for increased trading volume and a sustained break above resistance.

Scenario 2: Pullback

If the price drops below $1.100, it might test $1.085, where the stop loss becomes critical.

Reassess your strategy if this happens.

Final Thoughts.

Stay disciplined and follow the plan. Avoid chasing the price if it moves out of your buy zone.

Always monitor news and updates related to ENA to stay ahead.

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