$ENA Market Trend: Bearish, Consolidating After Downtrend
Trade Signal
Entry 1 (Short): $0.7380 (Current zone - for immediate continuation)
Entry 2 (Short): $0.7450 (Short on failed bounce attempt)
TP1: $0.7300
TP2: $0.7250
TP3: $0.7200
TP4: $0.7100
Stop-Loss: $0.7500 (Above recent consolidation high)
Why This Trade?
ENA is in a clear downtrend, consistently trading below its middle Bollinger Band, which is a strong bearish signal. The price is currently in a consolidation phase, which often precedes another leg down in a bearish market. The recent price action shows weakness, making a short position on a failed recovery or a break of the consolidation zone a high-probability trade.
Support & Resistance Levels
Support: $0.7219 • $0.7101 • $0.7000
Resistance: $0.7450 • $0.7550 • $0.7650
Market Update for ENA (ENA)
ENA is currently displaying negative momentum, with prices consolidating after a steep decline. The overall market sentiment for ENA is bearish, with traders watching for a break below the current support level to confirm further downside.
