$ENA The fact that the price is holding at the 0.831 level, which is a key Fibonacci Retracement (FVG) level, on both the 1-hour and 4-hour time frames, suggests a significant level of support.
Here are some possible scenarios:
1. *Bounce*: The price may bounce from this level, as it has held as support in the past.
2. *Consolidation*: The price may consolidate around this level, preparing for a further move.
3. *Breakdown*: If the price breaks below this level, it could indicate a further decline.
The fact that this level is holding on both the 1-hour and 4-hour time frames suggests a strong level of support. However, it's essential to consider other technical and fundamental factors before making a trading decision.
Some additional things to consider:
- Other technical indicators (e.g., RSI, MACD, ADX)
- Market sentiment and positioning
- Fundamental analysis (e.g., news, economic indicators)
- Higher time frame charts (e.g., daily, weekly) for context