$ENA

– Bearish test after a sharp decline, short trade in play

Failed structure. Weak recovery.

$ENA sharply declined from $0.5497 and found temporary support at $0.5150. The current rise towards $0.5285 is weak and appears corrective, showing signs of a bearish test below the previous support level that has turned into resistance. Sellers are likely to defend this level for the continuation of the movement.

Short entry: $0.5262

Targets: $0.5180 / $0.5100

Stop loss: $0.5315

The trend remains bearish below $0.5300 as the price fails to recover the broken structure.