$ENA Scenario A, to $1) and where the reason is š
š§ One-dimensional chart (macroeconomic context)
š Structure and trend
- The price has exited a long accumulation phase (approximately $0.30-$0.40) and has entered a price increase phase.
- It is now consolidating within a bullish flag pattern after a vertical rise.
- The relative strength index peaked near 80, and is now cooling down to around 68, still in an upward area but indicating a potential pullback or slowdown in the short term.
š Trading volume
- An increase in trading volume at the breakout indicates strong demand; the recent reduction indicates that the price is absorbing the gains.
- No signs of distribution yet - no significant trading volume + combination of a red candle.
š Key observations
- The higher low structure is intact.
- Bull market structure unless it breaks the range of $0.52-$0.54.
- A breakout of the flag resistance level (~$0.66-$0.68) could trigger a continuation of the trend towards the psychological levels of $0.85 and $1.00.
š One-hour chart (partial execution area)
š§± Pattern: Symmetrical triangle
- A high-tight symmetrical triangle is forming, likely a continuation pattern if the macroeconomics remain stable.
- Support: ~$0.55
- Resistance: ~$0.66
- Pressure is approaching the peak ā a breakout is likely to occur within the next 24-48 hours.
š Relative strength index and momentum
- The one-hour relative strength index shows bearish divergence and is pulling back from the level