ENA Plunge Oversold Alert! Opportunity for Bulls to Counterattack, Position to Buy Near 0.31, Beware of Liquidity Trap Risks!
Summary
Current ENA price 0.3128, 24-hour plunge of 9.57%, RSI oversold (32.53), strong support at the lower Bollinger Band, but overall market weakness (MA200 deviation -3.93%, open interest sharply decreased). It is recommended to position for short-term bullish trades: Entry at 0.3128, target 0.346, stop loss at 0.31, risk-reward ratio 11.86. Risk: If it breaks below the 0.30 support, it may accelerate downward, position size should be controlled within 2% of total capital.
Technical Analysis
Price State: Bollinger Band position 7.27% (near lower band 0.3103), indicating oversold rebound signals; MA200 (0.3256) and holding cost (0.3346) are both above the current price, indicating long-term weakness. Market Strength: 24-hour trading volume ratio 0.85 (decreased volume decline), open interest decreased by 42.95% in 24 hours, long-short ratio rose to 2.92, but funding rate is negative (-0.00004583), suggesting bears dominate but bulls face counterattack risk. Support and Resistance: Key support at 0.30 (buy-side liquidity 273,560 USDT), resistance at 0.346 (sell-side liquidity 229,828 USDT); buy-sell pressure ratio 1.54 (buy order advantage), but near area buy order value 534,495 USDT is higher than sell order 424,875 USDT, need to beware of liquidity gaps causing volatility.
Market Cycle Analysis
Currently in the mid-stage of a bear market, price continues to decline (14-day drop of 16.15%), open interest is shrinking, but RSI oversold and liquidity support suggest possible short-term bottom rebound.
Trading Strategy
• Entry Point: 0.3128 (near current price, aggressive positioning).
• Stop Loss Point: 0.3100 (support at lower Bollinger Band).
• Target Level: 0.3460 (sell-side liquidity resistance).
• Risk-Reward Ratio: 11.86 (based on bullish formula calculation).
Risk Warning: Overall market weakness, if it breaks below 0.30 support or encounters macro negative news (such as regulatory news), strategy may fail; avoid low liquidity periods when trading, single trade risk ≤2%.
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