Given that the current price of ENA (Ethena) cryptocurrency is around $1.01 and the recent high is $1.14, we can recalculate support and resistance levels based on this data.
Updated technical levels:
Major resistance: $1.14
This is the recent local high and represents a critical point that ENA needs to break to confirm a continued bullish trend.
Secondary resistance: $1.08
Around the area of the intermediate highs, this could act as a minor obstacle before the main resistance is reached.
First support: $0.98
It is the area where the price reacted previously, indicating a potential base for stabilization.
Secondary Support: $0.95
This level coincides with recent lows and could provide an entry point for long-term investors.
Major support: $0.91
If the market becomes more volatile or bearish, this level is critical to prevent a further decline.
Technical background:
RSI: It is near 70, indicating the possibility of a slight correction.
Volume: Increasing volume around the $1.00 level suggests high interest in this area.
General Trend: We are in a consolidation pattern between $0.95 and $1.14.
This data can help you post a detailed and useful analysis on the Binance Feed community. If you want, I can also suggest an explanatory graphic to make the post more attractive.
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