I. Review of Yesterday's Trend

On the 16th, ENA price encountered strong pressure at the high point of 1.3285, falling continuously, and after breaking below the MA7 moving average support, a significant downward trend formed in the short term. Yesterday, the price attempted to stabilize near 1.1153 (MA30 moving average), but the bearish power prevailed, and today the price finally fell to 1.0953, breaking through the key support area.

Summary of Yesterday's Trend: Sharp rise followed by a fall, weak oscillation, and increased bearish sentiment in the market.

II. Technical Indicator Analysis

  1. Moving Average System (MA Indicator)

    • MA7 (Short Term): 1.1360, the price has fallen below the MA7 moving average, entering a bearish trend in the short term.

    • MA30 (Medium Term): 1.1153, the current price is oscillating and declining near the MA30 moving average, and the bearish trend may continue.

    • MA100 (Long Term): 1.0047, an important support level below, target area for pullbacks.

  2. Bollinger Band Indicator

    • Bollinger Band Middle Track: 1.1150

    • Bollinger Band Lower Track: 1.0500
      The price hasfallen from the upper track, and has currently fallen belowthe middle track, expected to further test1.0500.

  3. MACD Indicator

    • 4-hour Chart:

      • DIF and DEA have formed a death cross, and the MACD histogram is negative, with bearish momentum continuing to be released.

    • Short-term Trend: Bearish power dominates the market, with a low probability of short-term rebounds.

  4. K-line Pattern

    • The current K-line shows a continuous decline, indicating heavy selling pressure in the market and insufficient buying power, with a high probability of further downward movement.

    • The highest point on the 16th at 1.3285 has become a strong resistance level, difficult to break through in the short term.

  5. Trading Volume

    • Accompanying the price drop, the trading volume shows a decrease, indicating that the market's short-selling sentiment is relatively cautious but still weak.

III. ENA Today's Operation Suggestions

Operation Direction: Mainly short selling at high points
If today's price fails to break through 1.1150 during a rebound, the bearish trend will continue, and the operational thought is as follows:

  1. Short Selling Strategy

    • Entry Point: 1.1100-1.1150 (Rebound Resistance Zone)

    • Average Cost Point: 1.1250 (Conservative Short Selling)

    • Stop Loss Point: 1.1320 (Strong Pressure Area, Breakout Stop Loss)

    • First Take Profit Point: 1.0800 (Previous Low Support Area)

    • Second Take Profit Point: 1.0500 (Bollinger Band Lower Support)

  2. Long Position Strategy (if a sharp drop occurs)

    • Entry Point: 1.0500 (Bollinger Band Lower Strong Support)

    • Stop Loss Point: 1.0400 (Stop loss if it breaks this level)

    • Target Level: 1.0950-1.1000 (Rebound Resistance Zone)

From the high point of 1.3285, it has collapsed all the way down; a short-term rebound is just a 'breather', and there's nothing significant. If it touches 1.1150 again today, don't miss the opportunity to short! Can't hold? Then just watch 1.0800-1.0500. Don't rush to catch the bottom; the bearish drama is still ongoing!
Don't be blinded by short-term fluctuations; Brother Tang teaches you to lock in targets, advance step by step, and smile as you witness wealth explosion! Follow Brother Tang, and take you from confusion to freedom!
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