Today I analyzed the ENA/USDC pair based on my 4h technical setup, validating several criteria for a possible position trade entry. Here are the main points of the analysis:

1. Trend and structure:

The asset broke a bearish structure on the 4h with a strong ignition candle, breaking a descending trendline and several horizontal resistances.

The movement created a sequence of higher lows and highs, suggesting an attempt at reversal.

On the daily chart, the price is still compressed, but with clear signs of recovery.

2. RSI and momentum:

Daily RSI on an upward trajectory, still below 60, but without divergences.

RSI on the 4h was in oversold territory and has now recovered to levels above 60, indicating buying strength.

3. Price action (bar by bar analysis):

Ignition candle with significant volume.

Formation of an inside bar shortly after the breakout of the descending trendline.

If the inside bar is broken to the upside with volume, it could confirm the continuation of the upward movement.

4. Moving averages (custom setup):

The price is now above the 8, 50, and 98 MAs on the 4h.

Observing the possible crossing of the 12 MA with the 50 MA, which in the past has signaled good entries.

On the weekly chart, the main moving averages are:

56 periods (8 weeks)

98 periods (14 weeks)

200 periods (28 weeks)

The price is still below the 98 weekly MA, which may act as future resistance.

5. Entry plan (to be validated with price action):

Aggressive entry: above $0.3260, with confirmation of strength.

Conservative entry: after a pullback and clear rejection with a strong candle above $0.3355.

Stop-loss:

Short: $0.3140

Safe: $0.2800

Probable targets:

1st target: $0.3355

2nd target: $0.4114

3rd target: $0.4749

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Summary:

The 4h chart presents interesting conditions for a possible technical entry, depending on confirmation of the breakout of the inside bar. The bullish structure, the RSI, and the behavior of the moving averages are aligned with the setup.

Disclaimer: This analysis is purely educational and does not constitute financial advice.

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