$ENA Bulls Defend Key Support After Sharp Drop
ENA is trading at $0.7228, rebounding slightly after a heavy sell-off earlier in the session. Price action shows buyers stepping in near key support, but upside momentum is capped by a tight resistance band.
Key Levels to Watch
• Resistance: $0.7350 – $0.7500 — Breaking above could trigger a run toward $0.7650 and $0.7800.
• Support: $0.7100 — A breakdown may lead to a retest of $0.6950 and potentially $0.6770.
Trade Setup — Prepare for Breakout or Breakdown
Bullish Entry:
• Trigger: Sustained move above $0.7500 with rising volume.
• Targets:
• TP1: $0.7650
• TP2: $0.7800
Bearish Entry:
• Trigger: Drop below $0.7100 with strong selling momentum.
• Targets:
• TP1: $0.6950
• TP2: $0.6770
Insight:
ENA has shown strong gains over the past month (+115%), suggesting underlying bullish sentiment. However, short-term volatility could offer both long and short opportunities depending on the breakout direction.