$ENA USTD
Market Overview:
$ENA is currently under selling pressure,reflecting a corrective phase within its broader trend. The high funding rate typical in perpetual swaps may have led to a necessary long squeeze, pushing the price down. This is a healthy reset if key support holds.
Trade Setup:
· Entry Zone: Rs97.50 - Rs100.50 (Watching for a bullish reversal signal)
· TG1: Rs108.00 (Recapture of recent breakdown level)
· TG2: Rs118.00 (Next significant resistance)
· TG3: Rs128.00 (Full recovery and trend resumption)
· Stop Loss: Rs93.00 (A close below indicates further downside)
Short-Term Insight (1-7 days):
The immediate focus is on finding a bottom.A bullish divergence on lower timeframes (like the 4-hour RSI) would be the first sign of seller exhaustion. The price needs to reclaim Rs105 to signal that the short-term downtrend has been invalidated.
Long-Term Insight (1-6 months):
The fundamental thesis for $ENA remains tied to its role in the Defi yield landscape.This pullback could present a higher-probability entry point for a long-term position, assuming the overall market structure for the sector remains intact.
Pro Tip:
When trading a leveraged product during a drawdown,avoid trying to catch the falling knife. Wait for a confirmed bullish engulfing candle or a hidden bullish RSI divergence on the 4-hour chart before entering. This increases the odds that the momentum has genuinely shifted.
