$ENA / Analysis: Bearish momentum suggests further decline..

$ENA has seen a sharp decline, trading at $0.800, recording a significant drop of -25.04% in the last 24 hours. The price is under heavy downward pressure, as it broke through key support levels, with a 24-hour low at $0.800. This indicates increased selling activity and a possible continuation of the downtrend.

Key levels to watch:

Support: $0.85 - If this level fails, further decline could lead to $0.80.

Resistance: $0.91 - A recovery above this level could lead to $0.96 or higher.

Trade Setup:

Short Entry: Entry below $0.800 with targets at $0.85 and $0.80.

Long Entry: Wait for a break above $0.91 with targets at $0.96 and $1.00.

Risk Management:

Stop Loss: $0.88 for short trades; $0.85 for long trades.

Market Overview:

Decreasing volumes and bearish sentiment suggest further weakness. However, any bounce near $0.85 could provide a temporary recovery opportunity. Traders should be cautious and ensure proper risk management in this volatile setting.