Technical Analysis ENA/USDT – Possible Continuation of Uptrend

After four months of free fall, ENA shows clear signs of reversal on the daily chart. The construction of bullish pivots started with the bottom at $0.2400, followed by higher highs and higher lows, with the most recent high at $0.5000. Currently, the price is pulling back and testing the region around $0.4050, an area of interest marked by the midpoint of the breakout candle from the 10th.

The RSI jumped from the oversold region to 59 points and remains above the moving average, indicating buying strength even during the correction. If the support between $0.3400 and $0.3600 holds, and the RSI stays above 50, there is potential for a new leg up towards $0.5600–$0.6000.

Invalidation scenario: A loss of $0.2800 on a daily close nullifies the bullish structure and returns the asset to a bearish bias.