$ENA /USDT 4-Hour Chart Analysis 📉
Current Price: 0.3742 USDT (+1.99% on 4H, but -6.78% overall)
🔍 The chart shows a sharp uptrend from May 9 to May 13, peaking at ~0.4500, followed by a steep decline to a 24h low of 0.3566. Price is now below the SMA, signaling bearish momentum.
📉 Key Levels:
Support: 0.3566, next at 0.3500
Resistance: 0.4000 (needs to break for bullish reversal)
📈 Volume: Spiked during the uptrend but faded in the downtrend—weak selling pressure, but no strong buying support yet.
⚠️ Long-term: Down 48.37% over 1 year, suggesting this uptick might be a correction, not a reversal.
Bearish bias for now unless 0.4000 is reclaimed with volume.
