📈 ENS/USDT Trading Analysis & Entry Plan (4H Chart) 🚀
Let’s break down the current setup for #ENS on Binance Perpetual Contract!
📊 Chart Analysis
Current Price: 16.848 USDT
Trend: After a strong rally to 18.469, ENS faced a sharp drop and is now consolidating near a key support zone (16.029-16.239).
Support: 16.029-16.239 (strong historical support).
Resistance: 17.100 (first target), 18.016 (second target).
Market Context: The broader market (BTC at $83,000, ETH at $1,878) is in a pullback phase, likely causing ENS to drop due to profit-taking and bearish sentiment.
🔑 Entry Plan
Long Entry (Buy):
Entry Zone: 16.029-16.239
Target 1: 17.100 (+6%)
Target 2: 18.016 (+12%)
Stop Loss: 15.800 (-2%)
Why? Price is at a strong support zone; a bounce is likely if volume increases and bullish signals appear.
Short Entry (Sell):
Entry Zone: 17.100 (if price rallies and rejects)
Target: 16.239 (+5%)
Stop Loss: 17.500 (-2%)
Why? If resistance holds, a retest of support is possible amid bearish market sentiment.
⚠️ Risk Management
Use only 2-5% of your capital per trade.
Always set a stop loss to limit losses.
Watch BTC’s movement—if it drops below $80,000, the market may see further downside.
💡 Pro Tip
Confirm entry with volume increase and bullish candlestick patterns (e.g., hammer, engulfing) for longs.
Stay updated with news on X (@CoinDesk, @CryptoNews) for market sentiment.
Happy trading! 🚀 Let me know your thoughts in the comments! 💬
Final Notes
Confirmation: Before entering, ensure the price action confirms your setup (e.g., volume spike, candlestick patterns).
Market Sentiment: Keep an eye on BTC’s movement, as it heavily influences altcoins like ENS.
