đˇď¸ As mentioned previously, $ENA traded around $0.33 before breaking its downtrend and launching a sharp rise up approximately 150%. It met resistance near $0.85, corresponding to Fibonacci levels, which appears to have successfully capped price action. Support zones are marked with green lines, while significant Fibonacci-based areas are marked with yellow lines.
âď¸ Positive Indicators:
Strong Momentum: The explosive rise following the downtrend breach supports a bullish technical outlook.
Resistance Reaction: The pushback near $0.85 aligns with expectations based on Fibonacci resistance levels.
Technical Alignment: Moving average crossoverslike the 50-day EMA crossing above the 200-day EMA offer optimistic signals.
âď¸ Negative Indicators:
Overbought Signals: RSI nearing overbought territory may signal potential short-term consolidation or correction.
Volume Caution: If trading volume does not sustain, support zones may weaken and price could test lower green-level supports.
âźď¸ This is not investment advice.
