ENAUSDT, 4H — Accumulation Phase Before Potential Upside Break
ENA remains range-bound between $0.54 and $0.64 after retracing from its local high of $0.7015. Despite a 6% decline in the last 24 hours, the asset still displays a structure typical of Smart Money accumulation.
EMA(7) is crossing below EMA(25), indicating short-term weakness in bullish momentum. However, the key dynamic support — EMA(99) at $0.5456 — continues to hold price. Each test of this area is met with a bounce, suggesting accumulation by larger participants.
RSI(6) stands at 42.89, signaling weakened buying interest. RSI(12) and RSI(24) remain balanced, reflecting a neutral phase. MACD shows mild divergence, but the histogram has yet to confirm a new trend forming.
Volume continues to decline, a classic sign of market consolidation. A breakout above $0.64 with confirmation could trigger a fast move back toward $0.70. Conversely, a breakdown below $0.5450 would likely lead to a liquidity grab and potential short-term downside.
Most likely scenario: consolidation continues with an upward breakout favored. Holding above the EMA(99) is essential for maintaining the bullish outlook.