$ENA A significant long liquidation occurred at $0.9451, totaling $1,179.5K. Such a liquidation often signals high market volatility and a shakeout of weak positions. The next move for will likely depend on market momentum and key technical levels.
Key Levels for $ENA.
Here’s a detailed trading plan based on current trends.
1. Buy Zone.
Ideal Entry Range.
$0.9100 to $0.9400
This zone provides a low risk entry, as prices near this range are close to the liquidation point, suggesting potential support.
2. Targets.
Target 1: $1.0000 (Short-term resistance)
Target 2: $1.0800 (Mid-term breakout level)
Target 3: $1.1500 (Potential profit-taking area if bullish momentum sustains)
3. Stop Loss.
Suggested Stop Loss.
$0.8800
Place the stop loss just below recent support levels to protect capital in case of further declines.
Market Outlook.
1. Bullish Scenario.
If $ENA bounces from $0.9451 or the buy zone, the token may move upward towards $1.0000, then $1.0800, fueled by short covering and renewed buying interest.
2. Bearish Scenario.
If $ENA breaks below $0.9100, it may drop to test the next support level around $0.8500, leading to additional sell-offs.
Strategy Tips.
Risk Management.
Allocate only 2-5% of your portfolio for this trade to manage risk effectively.
Monitor Volume.
Look for increasing volume near $0.9451 to confirm bullish momentum.
Keep Updated.
Market conditions can change rapidly, so keep track of price movements and broader market trends.
Would you like further assistance with any specific technical details.
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