Multi-timeframe technical analysis
One-hour K-line: After a continuous decline, signs of low-volume support have appeared in the 0.35 area.
The moving averages MA7 and MA30 have shown signs of turning, and a short-term rebound testing the 0.358 area may be on the way.
Trading volume has slightly increased, indicating that funds are quietly accumulating at the bottom.
The probability of a short-term oversold rebound is increasing, which can be an ideal time to open a position.
Four-hour K-line (mid-term structure): Price has retraced from the high of 0.4628 to 0.353, with a retracement of 23%, indicating a technical correction.
MA100 (0.3446) provides good support, and the current price is stable above it, indicating the possibility of forming a 'W-bottom' structure in the short term.
MACD shows slight signs of stabilization. If a golden cross signal appears, it is likely to trigger the next wave of rally.
Bullish in the mid-term, with the potential to break above 0.3628 after confirming stabilization.
Daily level: After a previous rise from 0.256 to 0.4628, there has been a deep correction, currently just backtesting MA100, in a healthy correction range.
If the bulls can hold around 0.346, it will have the potential to continue rising.
Trading volume remains healthy, with no significant divergence or heavy selling, overall in a consolidation phase rather than a downtrend.
Current ENA price: around 0.353
Long position entry suggestion
Entry point: 0.353
First take-profit level: 0.358
Second take-profit level: 0.3628
Stop-loss level: 0.3469
The above analysis is original content by Tie Zhu, not plagiarized or copied, with clear and directly applicable strategies for real trading!
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