$ENA /USDT TECHNICAL ANALYSIS: BEARS STILL IN CONTROL, BUT SHORT-TERM SUPPORT HOLDS
$ENA /USDT is currently trading at $0.2937, down by 1.77% in the last 24 hours. The pair has been in a steady downtrend, losing over 10% in the past 7 days and a massive 75.61% over the last 180 days. However, there are some short-term signs of consolidation.
On the 1-hour chart, the price bounced from the intraday low of $0.2866, forming a short-term support zone between $0.2860–$0.2900. Despite the slight recovery, the resistance near $0.3000–$0.3040 remains strong, rejecting further upside attempts.
Key Observations:
Lower highs and lower lows continue to dominate, confirming the bearish structure.
If ENA fails to reclaim $0.3000, the downside could extend toward $0.2800, with the next major support at $0.2700.
A breakout above $0.3040 could trigger a relief rally toward $0.3200, but volume remains relatively weak (24h USDT Volume: $24.10M), indicating lack of strong buying interest.
RSI (not shown, inferred from price action) is likely oversold, hinting at a potential bounce, but confirmation is needed with a close above the descending resistance line.
Market Outlook: Bearish bias continues unless ENA breaks above $0.3040 with volume support. For now, short-term traders may watch for a bounce from $0.2860–$0.2900, while swing traders remain cautious unless major resistance levels flip to support.
