$ENA. The price charts for ENA indicate a typical bullish pattern, which is a setup that traders wait months to see.
The price of ENA is currently trading at around $0.80, and is in a perfect position on a technical launch pad.
Setup pattern: strong 'W' pattern - historically a bullish reversal signal.
Support area: $0.72-0.68 - represents a strong defense area for buyers.
Current price: $0.80 - right at the neckline, where momentum can ignite.
This is not just an indicator of a bounce, but a breakout indicator. If the 'W' pattern is confirmed with trading volume, we may see a rapid move towards the next major resistance level.
Target forecast
If the breakout goes as expected, the price of ENA will not easily reach $1.30, but will move towards it.
This represents a potential move of +62% from the lower support area.
The importance of that
Model accuracy: the 'W' pattern has been very accurate in similar cryptocurrency setups over the past few weeks.
Market context: with market sentiment leaning bullish, these technical setups often see accelerated follow-through.
Trading plan
Accumulation area: $0.72-0.80
Breakout confirmation: closing above $0.82-0.84 with strong trading volume.
First target: $1.30
Stop-loss considerations: below the support level of $0.68.
⚠ Disclaimer: This is not financial advice. Always make sure to do your own research and manage your risks responsibly.
