Trading signal alert for $ENS /USDT based on the 1-hour chart

Technical Analysis for ENS/USDT

Current Price: $43.31 (+26.45% in the last 24 hours).

24H High/Low: $45.14 / $32.09.

Recent Price Action: ENS has shown significant upward momentum, with a strong breakout from the $32.09 level to reach a high of $45.14. The Relative Strength Index (RSI) is at 96.32, signaling overbought conditions, suggesting traders should proceed with caution for potential pullbacks.

Key Levels

Resistance Levels (Indicated in White):

1. $45.00 (Major resistance near recent highs).

2. $48.00 (Psychological and next technical level).

Support Levels (Indicated in Green):

1. $41.00 (Immediate support).

2. $36.00 (Key level for bullish continuation).

Short-Term Trade Signals

Type: Bullish Momentum (Short trade possible upon pullback to support levels).

Entry Price: $41.00 (on retest of support).

Take-Profit Targets:

1. $45.00

2. $48.00

3. $50.00

Stop-Loss: $38.00 (below major support).

Long-Term Trade Signals

Type: Continuation of Bullish Trend (Long trade setup for higher timeframe targets).

Entry Price: $43.50 (on sustained breakout).

Take-Profit Targets:

1. $50.00

2. $55.00

3. $60.00

Stop-Loss: $40.00 (below recent consolidation zone).

Indicators:

RSI: Overbought at 96.32, caution for pullbacks or consolidation.

Volume: Increased trading volume confirms the breakout momentum.

Cautionary Notes:

Watch for potential retracements to key support levels due to overbought RSI.

A break above $45.00 with sustained volume could signal further upside potential.

Monitor news or updates affecting ENS fundamentals for additional clarity.

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