$ENA
đ ENA/USDT: Is the Bottom In? | Technical Trade Plan đ
$ENA has been under significant pressure lately, but the 4H chart is finally flashing some high-probability reversal signals. We are currently sitting at a crucial Historical Demand Zone that has previously launched massive rallies.
đ Technical Breakdown:
Support Level: The price is bouncing perfectly off the $0.0980 - $0.1010 range. This area has shown strong buyer interest in the past.
Momentum: We are seeing a bullish exhaustion from sellers near the bottom of the descending structure. If we hold $0.1000, a move toward the upper resistance is highly likely.
The Setup: A clear long position from current levels targeting the previous swing high.
đ The Trade Plan:
Entry Zone: $0.1010 â $0.1030
Target 1: $0.1150 (Short-term resistance)
Target 2: $0.1250 (Mid-term target)
Main Target (TP): $0.1322 (Full trend reversal)
Stop Loss (SL): $0.0970 (Below the recent support wick)
â ïž Pro-Trader Note:
While the technicals look solid, stay alert! There is a Token Unlock event scheduled for May 5th (tomorrow). Around 171 million ENA tokens will enter circulation. This could cause some short-term volatility or a "stop-hunt" before the real move happens.
Always manage your risk and don't over-leverage, especially around unlock dates!
Whatâs your take? Are we mooning from here or waiting for the unlock dip? Letâs discuss below! đ
#ENA #Ethena #CryptoTrading #TechnicalAnalysis #BinanceSquare
