ENS Order Strategy Sharing (12.24)

Good evening everyone! Wishing you all a Merry Christmas Eve, remember to eat apples, as peace and health are the greatest blessings! The market has experienced fluctuations and slight declines in recent days, but yesterday's closing of US stocks saw a rally, driving most cryptocurrencies to rebound slightly. Based on the current trend, I personally predict that there might be a wave of upward movement around Christmas, but it may test lower levels again afterwards.

Current Technical Analysis of ENS

Breakthrough of the downward channel followed by resistance and pullback

Current Trend: ENS has recently successfully broken through the downward channel, but encountered strong resistance afterward, leading to a price pullback. From the 4-hour chart, the current preliminary support level is around 31.68, and the price may oscillate and pull back to around 33. A second pullback cannot be ruled out to confirm the validity of the subsequent rise.

Pullback to confirm bullish trend at JOC bottom

Trend Verification: After breaking through the downward channel, ENS may pull back to the JOC bottom to confirm the formation of an upward trend. According to the KDJ indicator, the three lines are about to expand parallelly, and the momentum for a rebound in the short term is relatively limited. Therefore, it is not recommended to chase after prices in the current market environment.

MACD Indicator Analysis

Insufficient Bullish Strength: From the MACD indicator, the current bullish momentum does not show significant expansion. The enthusiasm for buying in the market is low, possibly reflecting that traders are waiting for clearer rebound signals. This means that prices may experience certain pullbacks rather than a rapid rise.

Support Level Indicated by Liquidation Chart

Pay attention to the support area around 34: According to the liquidation chart data, bullish positions are relatively concentrated around 34, so this area may become a key support level. If prices fall to this area, a certain rebound may be welcomed.

Recommended Order Strategy

Long Entry Point: It is recommended to place long orders between 33-34. For spot trading, consider gradually entering the market in this area. The target price can be set around 43.

Order Reference: If the price pulls back to around 34, consider placing an order to enter at this point. If the market rebounds close to the target price of 43, it is advisable to take profits in a timely manner.

Subsequent Sharing

I will share some order strategies regarding Ethereum and Bitcoin later, so interested friends can pay attention and prepare in advance.

Wishing everyone smooth trading during the Christmas period, and have a pleasant Christmas Eve!

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