Technical Analysis: $ENA /USDT
Current Price: $1.2068 (+29.06%)
Timeframe: 30m Chart (Binance)
Key Technical Levels
1. Target Achieved: $1.2000 (Key Resistance Zone)
ENA has successfully reached and is consolidating around the psychological resistance of $1.2000.
2. Next Target (Upside): $1.2500
A continuation of bullish momentum could push the price toward the $1.2500 resistance, marking the next key level.
3. Next Target (Downside): $1.1500
If the price faces rejection at $1.2000, it could retrace to test support at $1.1500, offering a potential accumulation zone.
Trading Strategy
Short-Term Traders:
Monitor for a breakout above $1.2100 to target $1.2500. Secure partial profits near $1.2000 and set stop-losses below $1.1500 to minimize downside risks.
Long-Term Investors:
Consider accumulating at $1.1500 in case of a pullback, targeting a longer-term resistance of $1.3000, aligned with ENA’s strong uptrend.
Indicators to Monitor:
Volume Surge: Look for confirmation of breakout above $1.2100.
RSI Levels: Monitor for overbought conditions near $1.2500.