🚨 $ENA IS LOSING ITS H1 STRUCTURE — BUT SHORTING INTO SUPPORT IS THE TRAP.
ENAUSDT USD-M Futures last closed at $0.25049 (29 Sep, 10:59 UTC).
Three reasons sellers have the edge:
1️⃣ Price has formed lower highs from $0.29471 to $0.27687 and $0.27197, while the lows stepped down from $0.25735 to $0.25550 and $0.24712.
2️⃣ The sell candle from $0.26845 to $0.26093 traded 179.8M ENA — about 2.41× its previous 20-hour average.
3️⃣ Price remains below the H1 MA20 ($0.25474) and MA50 ($0.26476). The latest candle traded at only 0.45× its previous 20-hour average, so buyers have not shown strong recovery demand.
Wyckoff: the rejection from $0.29471 may mark a candidate BC/UT area, while the decline is developing like a SOW — not a confirmed distribution label yet. SMC: the loss of $0.25550 confirmed bearish structure; $0.24712 is the next weak low and breakdown trigger.
🔴 BEARISH BIAS — NO ENTRY YET
Trigger: H1 close below $0.24712
Entry: $0.2495–$0.2520, only after a failed retest
SL: $0.2649
TP1: $0.2376 (0.93R)
TP2: $0.21855 (2.28R)
An H1 close above $0.2649 invalidates the bearish thesis. I will not short directly into $0.24712 demand or chase the breakdown candle.
Will $0.24712 break and flip into resistance — or will buyers defend it again? 👀
$ENA #Wyckoff #SMC
Paper analysis only. Not financial advice.
ENAUSDT USD-M Futures last closed at $0.25049 (29 Sep, 10:59 UTC).
Three reasons sellers have the edge:
1️⃣ Price has formed lower highs from $0.29471 to $0.27687 and $0.27197, while the lows stepped down from $0.25735 to $0.25550 and $0.24712.
2️⃣ The sell candle from $0.26845 to $0.26093 traded 179.8M ENA — about 2.41× its previous 20-hour average.
3️⃣ Price remains below the H1 MA20 ($0.25474) and MA50 ($0.26476). The latest candle traded at only 0.45× its previous 20-hour average, so buyers have not shown strong recovery demand.
Wyckoff: the rejection from $0.29471 may mark a candidate BC/UT area, while the decline is developing like a SOW — not a confirmed distribution label yet. SMC: the loss of $0.25550 confirmed bearish structure; $0.24712 is the next weak low and breakdown trigger.
🔴 BEARISH BIAS — NO ENTRY YET
Trigger: H1 close below $0.24712
Entry: $0.2495–$0.2520, only after a failed retest
SL: $0.2649
TP1: $0.2376 (0.93R)
TP2: $0.21855 (2.28R)
An H1 close above $0.2649 invalidates the bearish thesis. I will not short directly into $0.24712 demand or chase the breakdown candle.
Will $0.24712 break and flip into resistance — or will buyers defend it again? 👀
$ENA #Wyckoff #SMC
Paper analysis only. Not financial advice.
