$ENA /USDT 4-Hour Chart Analysis – May 4, 2025
ENA has been in a consistent downtrend, currently trading at $0.2887, down 3.35% over the last 24 hours. Here's a breakdown based on the chart:
Trend Overview:
Short-Term Direction: Bearish
Downtrend Duration: Began after April 26 peak near $0.38, with continuous lower highs and lower lows.
Current Zone: Testing the lower support zone around $0.2852 (24h low), which may act as a short-term floor.
Volume Insight:
Volume has declined over time, showing reduced buyer interest.
No major spikes suggest lack of institutional or whale accumulation at current levels.
Support & Resistance:
Immediate Support: $0.2850 A breakdown below this could lead to retesting previous structure near $0.26–$0.25.
Immediate Resistance: $0.31 and then $0.34 recovery needs strong momentum and volume to break above these.
Indicators (Based on Chart Behavior):
Bearish Momentum: Clear red candlesticks dominate the past few sessions.
Oversold Signal Likely: Though RSI isn't shown, price behavior suggests nearing oversold conditionspossible for short-term bounce.
