This looks like a solid short trade setup based on bearish momentum and technical indicators. Here are a few additional thoughts:
Key Considerations:
1. Bearish Structure – Lower highs and lower lows confirm a downtrend.
2. Volume Confirmation – Increased selling pressure on red candles strengthens the short bias.
3. Critical Level: $0.3550 – A break below this could accelerate the drop.
4. Stop-Loss Discipline – A move above $0.3700 would invalidate the setup, so a well-placed stop is essential.
Risk Management Strategy:
Partial Profit Taking – Secure gains at Target 1 ($0.3550) to minimize risk.
Trailing Stop – Adjust stop-loss lower as price moves toward Target 2 ($0.3500) and Target 3 ($0.3450).
Watch Key Support Zones – If $0.3550 holds, price might consolidate or reverse.
Would you like a real-time check on ENA/USDT price action before entering the trade?
