#ena

bullish or just a trap

🔍 Key Observations:

Support Trendline Break:

The price has clearly broken below the upward trendline, which acted as dynamic support.

This often signals a shift in momentum from bullish to bearish.

Horizontal Level at 0.4448:

You mentioned the line near 0.45, which aligns with a horizontal support zone.

The current price is around 0.5277, already dipping significantly from the 0.7060 recent high.

If the price fails to reclaim above 0.45, we may see further decline.

Bearish Candles and Volume:

Recent candles are red with moderate volume, showing consistent selling pressure.

No strong bullish reaction at key levels.

📉 Potential Downside Targets:

If the breakdown confirms and momentum continues:

First support zone: Around 0.44

Next support: 0.38 – 0.40 range

Stronger base: Around 0.31 – 0.34, where price last consolidated before the breakout in July.

📌

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