$ENA Market Trend: Bearish, Downtrend Continues After Rejection
Trade Signal
Entry 1 (Short): $0.7900 (Current zone - for immediate continuation)
Entry 2 (Short): $0.7950 (Short on pullback to minor resistance)
TP1: $0.7850
TP2: $0.7800
TP3: $0.7750
TP4: $0.7700
Stop-Loss: $0.8200 (Above recent rejection point)
Why This Trade?
ENA is in a clear downtrend, consistently making lower lows and failing to hold any bounce attempts. The price is well below its key moving average, and the Bollinger Bands are expanding downwards, indicating strong selling momentum. The recent failed push higher and subsequent drop signal that sellers are still in firm control, and further price drops are likely.
Support & Resistance Levels
Support: $0.7850 • $0.7800 • $0.7750
Resistance: $0.7950 • $0.8000 • $0.8050
Market Update for ENA (ENA)
ENA is experiencing strong selling pressure, with its price continuing to decline after a brief, failed recovery attempt. Volume is high during the sell-off, confirming the strength of the downward move. The overall market sentiment for ENA is bearish, and caution is advised as further price depreciation is expected.
