๐ Traderโs Eye Technical Analysis on ENA/USDT (4H Timeframe) ๐
Currently, ENA/USDT is trading around 0.6702, showing signs of a potential bullish setup after consolidating within a defined range. Letโs break down the structure:
๐ Chart Observation:
Price has been moving inside a channel formation, bouncing between the upper zone (resistance) and lower zone (support).
The lower zone has been tested multiple times and is acting as a strong demand area.
After a correction from the upper zone, price is now attempting to push upward, indicating a potential breakout scenario.
The structure suggests that bulls are gradually regaining strength, and a move towards the upper zone could be the next target if momentum sustains.
๐ฅ Bullish Outlook:
As long as price holds above the lower zone, the bias remains bullish. If ENA/USDT breaks above near-term resistance, we could see momentum accelerating, targeting 0.75 โ 0.80 levels in the coming sessions.
โ ๏ธ Key Levels to Watch:
Support (Lower Zone): ~0.62 โ 0.64
Resistance (Upper Zone): ~0.78 โ 0.80
Breakout Point: A strong close above 0.70+ could trigger bullish continuation.
๐ก Traderโs Tip:
Always wait for confirmation before entering. A breakout with strong volume is the safest entry. Manage your risk with stop-loss placement just below the support zone to protect capital.
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