“After ENA's 7% crash, is 0.72 really the diamond bottom? This article teaches you how to use the trading volume map to copy institutional costs!”

【Quick Overview】

Behind the price waterfall, the “value anchor” of 1.8B USDT at 0.578 is still yawning below, while there are 3.2B USDT short positions piled above 0.72 — bulls and bears are playing an extreme tug-of-war of “who blinks first.”

【Key Ranges and Volume Distribution】

1. Value Anchoring Zone: POC 0.578 (1.81B USDT), 70% of chips have turned over here in the past two weeks, making it the last fortress for the bulls.

2. High Volume Buffer: HVN 0.561~0.623 forms a quadruple “iron wall,” a pullback to this area could easily trigger 1.2B~1.5B USDT in buy orders; the upper HVN 0.735~0.750 is a dense area for short positions.

3. Low Volume Void: LVN 0.512~0.516 and 0.842~0.854, if the price breaks into these areas, it could quickly slide to the next level.

4. 70% Volume Range: 0.541~0.809; the current price of 0.721 is close to the upper bound, indicating short-term overbought conditions.

5. Momentum Validation: At POC, Up/Down Volume is 49.6% vs 50.4%, indicating balance between bulls and bears; near 0.721, Up Volume is at 58%, slightly favoring bulls, but lacking sustained volume.

【Market Cycle】

Currently in the “high-level oscillation turning weak” phase: In the past 7 days, positions increased by 3% along with a price rise of 11.9%, but the contract has decreased by -6.36% in 24 hours, indicating funds are withdrawing, beware of the “pump and dump” finale.

【Trading Strategy】

• Range Pullback (Conservative): Place long orders within the 0.623 LVN, stop loss at 0.615 (recent HVN lower edge), target at 0.735, risk-reward ratio 2.1:1.

• Breakout Short (Aggressive): If the 1h candlestick closes below 0.68 and Down Volume > 60%, short to 0.623, stop loss at 0.690, risk-reward ratio 2.4:1.

• Invalid Condition: If the daily close returns above 0.75 and positions rebound, the short structure is broken.

【Risk Warning】

Funding rate is only +0.0048%, indicating low costs for bulls; if macro bearish news strikes, LVN 0.516 could transact instantly, control position ≤ 2% of account.

【LP Market Making Advice】

It is recommended to place dual-currency market making in the 0.623~0.735 range:

• The lower bound 0.623 is a strong support for HVN, while the upper bound 0.735 has HVN + short positions piled up, with recent range volatility maintained at ±8%, the transaction fee gains can cover impermanent losses.

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Thanks: “Silicon-Based Liquidity” for providing the foundational large model!

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