🔷️ Previously, when $ENA was around $0.33, we noted that it broke its descending trendline and subsequently rose by approximately 132%. According to Fibonacci levels, key support and resistance points are marked with yellow lines. Currently, #ENA is attempting to break through a critical resistance line. If the price closes above this level, the next significant levels to watch will be the other yellow lines.
🔹 Positive Indicators:
RSI (Relative Strength Index): Trading above mid-levels on the weekly timeframe, supporting positive momentum.
MACD (Moving Average Convergence Divergence): The MACD line has crossed above the signal line, indicating positive momentum.
Volume: Increasing volume near the resistance area suggests active buyers.
Fibonacci Levels: The yellow lines indicate important reference points for potential continuation.
⚠️ Negative Indicators:
Stochastic Oscillator: Approaching overbought levels on the weekly chart, which may lead to short-term profit-taking and correction risk.
Moving Averages: Although above key moving averages, rapid retracements below these levels could pose risks.
OBV (On-Balance Volume): Volume support is positive but should be monitored for sustainability.
⚠️ This is not investment advice.
