Technical analysis of the ENA/USDT Perpetual Futures parity will be made on the chart:
1. Target and Prices:
• On the chart, the current price is at 0.644.
• Upper resistance levels:
• 0.75 (important resistance zone)
• 1.08 (main target and potential formation completion zone)
• Below are the support levels:
• 0.50 (important support area)
• 0.42 (lower limit of the formation)
2. Support and Resistance Levels:
• Support:
• First major support is at 0.50 level.
• Below this zone, selling pressure may increase towards the 0.42 level.
• Resistance:
• There is a significant resistance at the 0.75 level. When this level is broken, the movement can be expected to accelerate.
• 1.08, a formation target and an important psychological resistance zone.
3. Indicators:
• Volume: An increasing trend is seen in volume, which may indicate that the upward movement is supported.
• Trend Indicators:
• The price broke the ascending channel and showed positive momentum.
• It appears that the trend is upward.
4. Formations and Formation Reversal:
• Falling Channel Formation: The price broke the falling channel and started an upward movement.
• The 1.08 level is indicated on the chart as the formation target.
• This represents a potential gain of approximately 229%.
5. Trend Direction:
• In an Uptrend: After the falling channel breakout, the uptrend has been confirmed.
• In the short term, momentum may increase further with the breaking of the 0.75 resistance.
6. Strategic:
• Acquisition Strategy:
• If the price corrects to 0.50-0.55 levels, a buying opportunity can be considered.
• If the volume increase is observed when the 0.75 resistance is broken, a position can be added.
• Stop Loss:
• A close below the support level of 0.50 can be used as a stop level.
• Profit Taking Levels:
• 0.75, intermediate target.
• 1.08, formation target.
• Risk Management: By planning your investment amount according to the target, you can consider making profits in resistance areas.
7. Comment:
• ENA/USDT parity is moving in an upward trend.
• Price movements are positive after the breakout. However, it should be monitored whether it will remain above the resistance levels.
• It indicates a continuing upward trend in the macro trend.