š Trade Setup:
$ENA ā Downtrend Intact, Weak Bounce Within Range
ENA continues a steady decline with price respecting the downsloping EMA50/100. RSI sits near 31 on 4H, with a recent bounce from the $0.563 area. MACD remains bearish on both 1H and 4H, but histogram bars are shrinkingāwatching for a weak retracement before potential continuation.
š Trade Plan
š» Short Entry: $0.582 ā $0.59 (EMA7/20 confluence zone)
šÆ Take-Profit Targets:
- TP1: $0.565 ā Near recent support
- TP2: $0.552 ā Prior wick + lower Bollinger Band
š Stop-Loss: ā $0.595 ā Above EMA50 + upper BB deviation
š” Risk:Reward: ~ 1:2.2
ā ļø Risk Factors:
- If price closes 1H above $0.60, bear setup may be invalid.
- Weekend volatility may cause erratic wicks.
- Watch BTC + alt correlation for confirmation.
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