ENA IN EXPLOSION... 🚀🚀🔥🔥
The ENA token is currently priced at around 0.66$ and shows an interesting technical configuration for a short to medium-term trade.
Key support levels to monitor are:
0.61$ (immediate support)
0.56$ (stronger support in case of correction)
0.47$ (major long-term support).
On the resistance side, the first significant obstacle is at $0.70. A convincing breakthrough of this level could push the price towards the next higher resistance at $0.85.
The RSI stands at around 61, approaching slightly overbought conditions, suggesting a possible consolidation phase in the short term. The Bollinger Bands show a widening, indicating increasing volatility and the possibility of an imminent breakout. The technical structure remains bullish, supported by demand and the growth of TVL (Total Value Locked) which has surpassed $8.4 billion.
Suggested trading strategy:
Entry: between $0.63 and $0.66
Take Profit: $0.75$ and subsequently $0.85
Stop Loss: just below $0.60$ to limit risk in case of reversal
ENA remains a token of strong interest among investors, but the volatility suggests careful risk management. Monitoring volumes and oscillators will be crucial to adjust stop and profit levels.
