Long scenario according to ENA:

1. Entry point:

• It is worth entering the position around the level of $0.96-$1.00, if there is a breakout of resistance at the level of the “neck” line upwards, which will confirm the strength of the bulls.

2. Profit targets:

• First target: $1.25 (local resistance level).

• Second target: $1.33 (previous maximum).

3. Stop loss:

• Level $0.85, below the key support level, to minimize risks in case of a rollback.

4. Volume:

• It is recommended to distribute capital by levels for averaging the position, if there is a retest of the lower values.

Confirmations for entering Long:

• Increase in volumes upon breakout of the “neck” line.

• Confident closing of the daily candle above the level of $1.00.

“Head and Shoulders” figure:

• Left shoulder: Formed at the level of about $0.85.

• Head: High around $1.33.

• Right Shoulder: Completed around $1.00.

• Neckline runs through the $0.96-$1.00 range.

If the pattern works out, the move up could be impulsive. However, it is worth watching the overall market trend for additional confirmation. $ENA $ENA #OnChainLendingSurge