“ENA vs Mainstream Imitators: Is 0.65 a Bottom or a Trap?”——Missed this pullback, should we wait for a 30% drop?

Summary: ENA has seen massive trading volume at 0.58 over the past 20 days but is being firmly suppressed by MA200; the funding rate is slightly positive, and open interest has been declining, which may trigger a 10% level rebound with short covering at any moment. However, if it falls below 0.60, it will head straight for the 0.52 low-volume vacuum area.

Key Range Structure

• Value Anchor (POC): 0.582 —— The largest trading volume in two weeks, balanced between long and short, a breakout above 0.60 with increased volume is needed for confirmation.

• HVN Buffer: 0.566 / 0.731 —— The former serves as nearby support, while the latter is the ceiling for a swing rebound.

• LVN Gap: 0.512-0.528, 0.838-0.852 —— Once the price enters, it can quickly cross through.

• 70% Value Area: 0.558-0.814 —— The current price of 0.648 is slightly below the midpoint of the range, not yet extremely oversold, but has already moved away from the high trading volume zone.

Momentum Verification

• POC Area Up/Down ≈ 44:56, slightly seller-dominated; if above 0.60, Up > 60% is considered a bullish signal.

• In the past 24 hours, there has been a net outflow of contracts totaling 19.3M, corresponding to a decline of 1.8%, indicating a divergence between volume and price suggesting that selling momentum may be weakening.

• The 1-hour Bollinger Band middle line is at 0.645, with the current price running close to the line, RSI at 60, indicating a neutral short-term bias.

Market Cycle

Medium-term downward oscillation channel: MA200 is at 0.726, with the price deviating by -10.8%, and no long-term bottom divergence has occurred, defined as the “late-stage bear market oscillation seeking a bottom.”

Trading Strategies

1. Range Pullback (Conservative):

Entry at 0.626-0.628 (LVN upper edge + 0.61 buy wall resonance), stop-loss at 0.614 (recent HVN 0.616 outer side -0.5×ATR ≈ 0.012), target 0.663 / 0.731, risk-reward ratio of 2.9 : 1.

2. Breakout Follow (Aggressive):

After a breakout above 0.663 with increased volume (≥1.5× average volume), chase the long position, stop-loss at 0.654, target 0.713, risk-reward ratio of 2.4 : 1.

3. Short Continuation (Cautious):

If the 1-hour close falls below 0.614, short lightly at 0.620 during the rebound, stop-loss at 0.628, target 0.600 / 0.580, risk-reward ratio of 2.1 : 1.

Risk Warning

• Falling below 0.60 will trigger acceleration outside the value area, making Strategy 1 ineffective.

• Macroeconomic black swan events or BTC breaking its level will amplify the decline; position ≤ 1% of account equity.

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Acknowledgments: “Silicon-based Liquidity” for providing the foundational large model!

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