🚀 Technical Analysis #ENA 📊

🌟 Overview:

The chart shows a slowdown in growth after reaching a local peak at $1.33. The price is testing key EMA levels (7, 25, and 99), signaling either a continuation of the correction or a potential rebound.

🔑 Key Levels:

  • Resistance (SELL): $1.20, $1.25, $1.33 🟥

  • Support (BUY): $1.10, $1.00, $0.90 🟩

💡 Entry and Exit Points:

1️⃣ Long (Uptrend):

  • 📌 Entry Conditions:

    • Price holds above EMA(25) ($1.17) and shows bullish signals.

    • Confirmation: Candlesticks with long lower shadows and rising volumes.

  • Entry Points:

    • $1.15 – aggressive entry for early movement.

    • $1.18–$1.20 – safer entry after an uptrend confirmation.

  • 🎯 Profit Targets:

    • $1.25 – first target 🥇

    • $1.30 – second target 🥈

    • $1.35 – third target (if momentum is strong) 📈

    • $1.45–$1.50 – long-term target in case of continued trend.

  • 🛡️ Stop Loss:

    • $1.10 – in case the price breaks below support.

2️⃣ Short (Downtrend):

  • 📌 Entry Conditions:

    • Price breaks below $1.10 with volume confirmation.

    • EMA(99) ($1.07) acts as resistance.

  • Entry Points:

    • $1.10–$1.12 – aggressive entry on breakdown.

    • $1.00 – safer entry after breaking below psychological support.

  • 🎯 Profit Targets:

    • $1.00 – first target 🥇

    • $0.95 – second target 🥈

    • $0.90 – third target on continued downtrend.

    • $0.80–$0.75 – long-term target for deeper corrections.

  • 🛡️ Stop Loss:

    • $1.15 – if upward movement resumes.

⚡ Recommendations:

  1. Scalping in Range:

    • While the price is trading in the $1.10–$1.20 range, consider trading the boundaries:

      • Long at $1.10, target $1.20.

      • Short at $1.20, target $1.10.

  2. Focus on EMA Levels:

    • EMA(7) and EMA(25) are great indicators for short-term trends.

      • If the price is above both – go long.

      • If below – go short.

    • EMA(99) serves as a strong support or resistance level for mid-term trades.

  3. Volume Monitoring:

    • Increased volume during key level breakouts confirms trend strength.

    • Low volume may indicate a false breakout.

  4. Fundamental Factors:

    • Stay updated on Ethena project news. Successful updates or partnerships can push the price above key levels.

✨ Conclusion:

ENA is currently trading within a consolidation zone. It’s best to wait for a breakout above $1.20 for a long entry or below $1.10 for a short entry.
⚠️ Remember to manage risks, set stop-losses, and diversify your investments.

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🎉 Happy Trading! 💪📈