🔍 Summary: The ENA/USDC pair is in a correction phase and may be close to a buying opportunity, following the 4h setup.

📌 Step 1: Trend on Daily Chart (1D)

📉 The daily trend is no longer as strong upwards, with descending tops and bottoms.

📉 The 8, 12 and 50 period moving averages are sloping downwards, showing a loss of buying strength.

📉 The daily RSI is below 60, indicating that buyers have not yet regained control.

📌 Conclusion: Entry risk increases without a clear uptrend on the daily, but relevant support may offer a good opportunity.

📌 Step 2: RSI on 4h Chart

📊 The 4h RSI is at 34.42, approaching the oversold region (below 30).

📊 This indicates that the price has already fallen significantly, but has not yet reached an exhaustion extreme.

📌 Conclusion: The RSI has not yet reached 30, but it is already close. We need confirmation with Price Action.

📌 Step 3: Supports and Price Action

✅ Relevant support: $0.4603, where there has been strong accumulation in the past.

✅ Price has not yet tested this support, but it is close.

❌ No clear reversal pattern (Pinbar, Inside Bar or Bullish Engulfing) has formed so far.

📌 Conclusion: The $0.4603 support will be a key point to watch. An entry will only be validated with a reversal signal and breakout of the candle's high.

📌 Step 4: Breakout Entry

⏳ There is no valid entry yet. We need to wait:

✔ Price touches support at $0.4603

✔ A Price Action pattern indicating a reversal

✔ Breakout of the high of the reversal candle to confirm entry

📌 Step 5: Stop-Loss and Target

🚨 Stop-loss: Below $0.4603, ideally at $0.4390, to avoid false breakouts.

🎯 Target 1: $0.6667 – first significant resistance.

🎯 Target 2: $0.7236 – if the movement gains strength and follows the previous trend.

📊 Risk-reward: Depending on the entry pattern, a 5-7% risk for a 20-30% target may be viable.

📌 Conclusion

The ENA/USDC pair is close to an important support, but there is no valid entry yet as price action confirmations are missing. The best strategy is to wait for a clear test of the support zone and a strong reversal pattern.

⚠️ Without Price Action, of course, there is no trade! The 4H setup requires discipline and patience to validate safe entries.

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