Excellent expert analysis 😍

$ENA /USDT Analysis: Approaching Key Resistance $ENA is trading at $0.9316, showing a 6.90% increase over the last 24 hours. The price has rebounded sharply from its low of $0.8144 and is testing higher levels near $0.9470.



Key Levels to Watch:

Resistance Levels:

$0.9470: Immediate resistance; breaking above this level could target $0.9700 and $1.00.

Support Levels:

$0.9000: Initial support to monitor for pullbacks.

$0.8600: Key support; a breach may lead to a deeper correction.

Trading Strategy:

For Long Positions: Enter above $0.9350, targeting $0.9700 and $1.00. Place a stop-loss below $0.9000.

For Short Positions: Consider shorting if rejected at $0.9470, with targets at $0.9000 and $0.8600. Set a stop-loss above $0.9500.

Market Insight:

The RSI at 75.53 indicates overbought conditions, signaling potential caution for new long entries. MACD is bullish, reflecting strong momentum. Traders should monitor volume closely for signs of a breakout or reversal at resistance levels.
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