ENA/USDT, 1H – Possible Pullback After Overbought Conditions
On the 1-hour chart, ENA/USDT shows a sharp upward move, reaching $0.6732 with a 24h gain of over 15%. However, signs of a local correction are beginning to appear.
Technically, the asset trades above all key EMAs: 7 (0.6510), 25 (0.6159), and 99 (0.6018), confirming a bullish trend. Yet, the price is significantly distanced from EMA(7), suggesting a potentially overheated short-term impulse.
Indicators call for caution: RSI(6) = 81.29 and RSI(12) = 72.96 are both in overbought territory, increasing the probability of profit-taking and a short-term pullback. MACD remains positive, but its histogram is beginning to lose upward momentum.
Volume remains high, indicating active trading, though this could signal distribution following a strong rally.
Conclusion: unless the price breaks and holds above $0.70, a retracement to the $0.615–0.635 zone is likely. Further upside requires a breakout above $0.70 with supporting volume and RSI confirmation.
