📈 $ENA Breaks Out – Opportunity or Overextension?

Current Price: $0.61

24H Gain: +19%

Volume Surge: >$1B

🧭 Technical Snapshot

Breakout from a bullish falling wedge on the 4H chart

Price is now above the 50EMA and 200EMA, turning both into potential support

RSI is trending near 70 — signaling strength, but also potential short-term exhaustion

MACD crossover occurred with expanding bullish momentum

Volume confirmation strengthens the validity of this breakout

🧠 Key Zones

Support: $0.56 – $0.58 (breakout retest level)

Resistance: $0.66 – $0.70 (next supply zone)

Stop Loss (tight): $0.55

Stop Loss (wide): $0.52 (under wedge base)

📦 On-Chain & Market Sentiment

Whales accumulating: +1.87M ENA purchased last 7 days

1.07B ENA withdrawn from exchanges — reducing sell pressure

Arthur Hayes just added 2.16M ENA to his portfolio

All signs point to strong conviction from smart money.

🎯 Trade Setup

Strategy Details

✅ Entry Above $0.59 confirmed with volume

🎯 TP1 $0.66

🎯 TP2 $0.72

❗ SL $0.55

This is a momentum-driven breakout. As long as price holds above $0.58, bulls remain in control.

🔔 Conclusion

$ENA is showing strong bullish continuation signals. Smart money is buying, technicals align, and volume confirms.

Ideal moment for calculated long entries — watch for retest to add with conviction.