#OrderTypes101 might be useful on nailing your stop-loss, especially to trade with $ENA ! Can this coin break the downtrend?
The 1-hr chart of #ENA showing a clear downtrend right now.
The price has been making lower highs and lower lows since that peak around 0.45, and the EMA200 and EMA50 sloping downward too, locking in that bearish vibe for the short-to-medium term.
There’s a solid support zone around 0.30 where it’s bounced a few times, and the first resistance is at 0.336–0.340, which used to be old support before it broke down.
Interestingly, there’s a hidden bullish divergence down at 0.27–0.28—MACD made a higher low even as the price hit a lower low, hinting that selling momentum might be fading and a reversal could be brewing.
The latest rebound pushed the price above the BB middle and EMA21/50, hitting resistance at ~0.336 with a slight volume bump.
If it holds above 0.336 and the EMA50 flattens or turns up, we might see a bigger correction toward 0.35–0.36. But watch out—while the price is still under that down-trendline, this rebound could flop.
My take:
A rejection at 0.336 might send it back to 0.30 or even retest 0.27. Keep an eye on the next 1-hour candle: a close above 0.336 with solid volume would boost the bullish pullback case, otherwise, it’s likely heading lower to 0.30–0.27.
However, price has bounced off 0.3000-0.3020 a few times, so slam your stops-order just under that—think 0.2970-0.2980. That buys you room for the usual fake-outs while saving your backside if the support really dies.
Need more space? Park it below the 50-EMA, sitting around 0.2950 right now. Slip under the 50-EMA and you’re looking at a full-blown bearish slide.
