K-line technical analysis and trend judgment
Long-term analysis (4-hour chart):
The price has recently risen from a low of 0.4965 to a recent high of 1.3285, showing an overall bullish uptrend.
The EMA (7-day and 30-day) has maintained an upward trend after forming a golden cross earlier, indicating that the market has a certain level of support, but there has been a tendency to stabilize or even consolidate recently, showing that the upward momentum may slow down.
Currently retracing to around 1.0866, accompanied by increased volume, this can be seen as a technical adjustment to the previous gains.
Short-term analysis (1-hour chart):
The current price is short-term blocked at the 1.1000 level, and there may be a need for a consolidation in the near term.
The MA system has formed a short-term death cross, which may indicate that the price will further test the lower support.
Trading volume:
The trading volume has significantly increased recently, especially during the decline, indicating strong bearish forces.
Current volume is shrinking; attention should be paid to whether there is a rebound in volume; otherwise, the weak market may continue.
Operational strategy and key points
1. Opening position:
Suggested opening price: 1.0800 (current price is in a fluctuating area nearby, waiting for stabilization signals before entering long positions)
2. Take profit level:
First take profit level: 1.1250 (short-term rebound to key resistance level)
Second take profit level: 1.1600 (if the volume continues to expand, there is hope for a breakthrough to continue the uptrend)
3. Stop loss level:
Stop loss price level: 1.0500 (if this support level is broken, it indicates the continuation of the downward trend, and decisive stop loss is needed)
4. Risk warning:
If the price falls below 1.0800 and continues to weaken with increased volume, it is recommended to temporarily observe and avoid entering the market too early.
Pay attention to the overall market volatility range, control position risk, and avoid chasing highs and selling lows.
Comprehensive analysis and summary
ENA's current trend shows a short-term retracement combined with fluctuations, and the price may fluctuate between 1.0800-1.1250.
Yesterday's direction mainly showed a fluctuating retracement. If today can hold the 1.0800 support and rebound, it is expected to further test the 1.1250 resistance level.
In operations, attention should be paid to the coordination of price and volume, as well as further guidance from the EMA system.
Suggested direction: biased towards long positions, mainly focusing on buying low, paying attention to volume performance and support effectiveness.
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