$ENA Breakdown: Bearish Signals Brewing
đ Tendency & Structure
A potential Head-and-Shoulders pattern is forming â a classic sign of trend reversal. The recent dip below the EMA suggests bearish continuation is likely.
đ Volume & Volatility
Weâre seeing high volatility, with price repeatedly testing lows and lacking strength at highs. Weak volume during rallies hints at mounting selling pressure.
đ 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.
đ Consolidation & Reversal Zones
Price has been consolidating around 0.3344â0.3723. A breakdown below 0.2987 could trigger further downside. On the flip side, a reversal above 0.4176 might shift the trend upward.
đ Key Levels
⢠Support: 0.2987
⢠Resistance: 0.4176
Weâre currently testing major support â these are the levels to keep a close eye on.
