$ENS

Detailed analysis of the ENS/USDT chart on the 4-hour timeframe

1. 🚀 Massive Breakout Alert

•ENS surged over 34% in the last 24 hours, breaking out from its previous consolidation range.

•Strong bullish momentum as the price touched a high of $37.29.

Key Observations:

•The breakout was fueled by a large green candle, indicating high buying pressure.

•The current price of $34.05 suggests a possible pullback after hitting resistance near $37.

2. 📈 Support & Resistance Levels

•Support: Previous lows around $14.55 held strong as buyers accumulated in that range.

•Resistance: Immediate resistance at $37.29. If broken, the next major resistance lies near $40.

3. 🔥 Volume Explosion

•Volume shows a significant increase, with 24h volume at 9.63M ENS, indicating strong market participation.

•Such spikes in volume often accompany breakouts, suggesting sustained interest in ENS.

4. 📊 Indicators in Play

•RSI (Relative Strength Index): Likely overbought, caution for a potential short-term pullback.

•Bollinger Bands: Price seems to be hugging the upper band, indicating a continuation of the bullish trend but also signaling possible exhaustion.

5. 🛑 Risk Zones

•Be cautious around $37 if resistance holds. If the price rejects this level, it might retest support around $30 or lower.

6. 🕵️‍♂️ What’s Next?

•A pullback to retest support levels (possibly $30–$32) could offer a good re-entry point for bulls.

•However, if the price consolidates above $34, it might signal strength for another rally to $40 and beyond.