#ENA
The price action indicates a series of lower highs and lower lows, but the recent green candle suggests a potential short-term reversal or relief rally.
Volume has increased on the recent green candle, signaling renewed buying interest after a period of selling pressure.
The RSI is at 42.67, which is below the neutral 50 level, indicating the market is still in a bearish to neutral zone, but not yet oversold.
Fibonacci Retracement Analysis
Drawing a Fibonacci retracement from the recent swing high (~$0.474) to the swing low ($0.2499), the key levels to watch are:
23.6%: ~$0.303
38.2%: ~$0.340
50%: ~$0.362
61.8%: ~$0.385
The current price ($0.3315) is testing the 23.6%-38.2% retracement zone. A sustained move above $0.340 (38.2%) would indicate stronger bullish momentum and could target the 50% retracement at $0.362.
3-Day Outlook
Bullish Scenario: If ENA/USDT holds above $0.3315 and breaks $0.340 with strong volume, expect a move toward $0.362 (50% Fib) and possibly $0.385 (61.8% Fib) in the next 3 days.
Bearish Scenario: Failure to hold $0.3315 could see a retest of support at $0.303 (23.6% Fib) or even back to the $0.29-$0.25 range if selling resumes.
Aggressive traders: Consider buying on a confirmed breakout above $0.340 with a stop below $0.303.
Conservative traders: Wait for a pullback to $0.303-$0.31 support to enter, targeting $0.340 and $0.362.
