$ENA Breakdown: Bearish Signals Brewing
š Tendency & Structure
A potential Head-and-Shoulders pattern is forming ā a classic sign of trend reversal. The recent dip below the EMA suggests bearish continuation is likely.
š Volume & Volatility
Weāre seeing high volatility, with price repeatedly testing lows and lacking strength at highs. Weak volume during rallies hints at mounting selling pressure.
š RSI & Sentiment
RSI(6) is down to 31.15, signaling oversold conditions. At the same time, the MACD is crossing below the signal line, reinforcing bearish momentum.
š Consolidation & Reversal Zones
Price has been consolidating around 0.3344ā0.3723. A breakdown below 0.2987 could trigger further downside. On the flip side, a reversal above 0.4176 might shift the trend upward.
š Key Levels
ā¢ Support: 0.2987
ā¢ Resistance: 0.4176
Weāre currently testing major support ā these are the levels to keep a close eye on.
