馃毃Trading Signal Alert馃毃

Technical Analysis Report: $ENA /FDUSD (1-Hour Chart)

Price Overview:

Current Price: $0.8010

24H High: $0.8356

24H Low: $0.7168

24H Volume: 3.45M (ENA), 2.67M (FDUSD)

The ENA/FDUSD pair has exhibited bullish momentum, with an 11.28% gain in the past 24 hours. Price recently tested and rejected a key resistance at $0.8356, pulling back slightly to consolidate near $0.8010. The overall structure remains bullish, supported by higher highs and higher lows.

Key Levels:

Resistance:

Primary: $0.8356 (recent peak, strong selling zone).

Secondary: $0.8432 (next potential breakout target).

Support:

Primary: $0.7879 (recent consolidation zone).

Secondary: $0.7327 (previous low, critical defense area).

Indicators:

RSI (6): 54.57 (neutral zone, slightly favoring bulls).

Trend Direction: Uptrend (confirmed by the series of higher highs and bullish candlestick patterns).

Volume: Strong buying volume indicates potential continuation of the uptrend.

Trading Signals:

Short-Term Trade:

Entry Price: $0.8010 (current level).

Take-Profit Targets:

1. $0.8200 (short-term breakout target).

2. $0.8356 (24H high).

3. $0.8432 (major resistance level).

Stop Loss: $0.7850 (below current support).

Recommendation: Wait for a break and retest of $0.8100 to confirm momentum.

Long-Term Trade:

Entry Price: $0.7879 (near support level for safer entries).

Take-Profit Targets:

1. $0.8100 (initial bounce target).

2. $0.8356 (key resistance).

3. $0.8500+ (new high if breakout succeeds).

Stop Loss: $0.7327 (below secondary support).

Recommendation: Monitor volume and RSI to avoid entering overbought conditions.

Cautionary Note:

Breakout Signals: A break above $0.8356 could trigger a strong rally towards $0.85 or higher.

Stability Check: Consolidation below $0.7879 may signal weakening bullish momentum; avoid entering trades during low-volume periods.

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