📊 Analysis of the pair $ENA 📊
In the current analysis of the pair $ENA, we observe that the price has been consolidating in a sideways range after a recent sharp decline. This behavior is often indicative of accumulation before a significant directional move. Technically, the key support is located in the area of 0.45 USDT, while the immediate resistance is at 0.52 USDT.
If the price manages to break that resistance strongly, we could see a bullish momentum towards 0.60 USDT. On the other hand, if it loses support, the bearish scenario would be activated with a potential retracement down to 0.40 USDT. It is important to pay attention to the volume and the market's reaction in these areas.
Personally, I am waiting for confirmations on smaller timeframes to assess a long entry, but with a tight stop loss. The pair $ENA remains interesting due to its volatility and short-term scalping opportunities.
