$ENA 🚀 BULLISH MOMENTUM 🚀
Chart Overview
ENA is trading within a visually identifiable Fibonacci zone, suggesting potential retracement or continuation. A recent swing low near $0.60 and swing high around $0.85 frame the current price action on the chart. Indicators like increased volume and on-chain activity hint at momentum gathering beneath the surface .
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Fibonacci Levels Setup
Based on the swing low of $0.60 and swing high of $0.85, here are the crucial retracement and extension levels:
Fibonacci Level Price (USDT)
38.2% ~$0.695
50.0% ~$0.725
61.8% ~$0.755
100% (Breakout) $0.85
127.2% Extension ~$0.92
161.8% Extension ~$0.99
ENA currently hovers just around the 61.8% retracement—a notable “golden pocket” that's often a pivot zone for trend continuation.
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Trading Strategy
1. Pullback Long (Low-Risk Entry)
Entry Zone: $0.725 – $0.755
Stop-Loss: Below $0.70
Targets:
T1: $0.85 (Swing High)
T2: $0.92 (127.2% extension)
T3: $0.99 (161.8% extension)
2. Breakout Long (Momentum Play)
Trigger: Daily candle closes above $0.85 with strong volume
Stop-Loss: Below $0.80
Targets:
T1: $0.92
T2: $1.00+ (psychological/extension zone)
Strategy Summary
Strategy Type Entry Zone Targets Stop-Loss
Pullback Long $0.725 – $0.755 $0.85 → $0.92 → $0.99 < $0.70
Breakout Long > $0.85 $0.92 → $1.00+ < $0.80
Rejection Short ~$0.85 Down to $0.75–$0.73 > $0.87
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Additional Market Context & Risk Management
ENA is supported by strong fundamentals, including its synthetic stablecoin USDe, rising TVL, and bullish technical indicators like EMA crossovers and volume surge .
Keep position risk to 1–2% of your portfolio. Confirm entries using volume analysis and momentum indicators (RSI, MACD).