ENA is poised for a significant downturn after breaking market structure, with multiple signals confirming a short setup. This zone is crucial as it represents a key area of resistance turned support, now under threat of being overrun.
━━━━━━━━━━━━━━━━━━━━━
🔴 $ENA SHORT 📉
━━━━━━━━━━━━━━━━━━━━━
📍 Entry Range: $0.083357 – $0.083523
🛑 Stop Loss: $0.085943 (-3.0%)
🎯 TP1: $0.082188 (+1.5%)
🏆 TP2: $0.079268 (+5.0%)
⚡ R/R Ratio: 1:1.7
📊 Confidence: 94%
━━━━━━━━━━━━━━━━━━━━━
The CHoCH signal fired as ENA broke down from its recent range, while CVD and the presence of a fair value gap confirm the bearish momentum. Additionally, the overlap of an order block with the fair value gap creates a high-probability short zone, further supported by a liquidity sweep and point of interest confluence. This confluence of signals and structural breakdown gives high confidence in the short setup.
With a 3.0% stop loss, leverage of up to 5x can be considered, as this stop is relatively tight and aims to capture the initial wave of selling pressure before reassessing.
Taking partial profits at the first target is advisable, as this allows for the realization of some gains while letting the remaining position ride out the potential for further downside, should the trade continue to unfold in favor of the bears.
Not financial advice — always manage your own risk 🙏
$ENA #ENAUSDT #bitmart #TradingSignals #Write2Earn
━━━━━━━━━━━━━━━━━━━━━
🔴 $ENA SHORT 📉
━━━━━━━━━━━━━━━━━━━━━
📍 Entry Range: $0.083357 – $0.083523
🛑 Stop Loss: $0.085943 (-3.0%)
🎯 TP1: $0.082188 (+1.5%)
🏆 TP2: $0.079268 (+5.0%)
⚡ R/R Ratio: 1:1.7
📊 Confidence: 94%
━━━━━━━━━━━━━━━━━━━━━
The CHoCH signal fired as ENA broke down from its recent range, while CVD and the presence of a fair value gap confirm the bearish momentum. Additionally, the overlap of an order block with the fair value gap creates a high-probability short zone, further supported by a liquidity sweep and point of interest confluence. This confluence of signals and structural breakdown gives high confidence in the short setup.
With a 3.0% stop loss, leverage of up to 5x can be considered, as this stop is relatively tight and aims to capture the initial wave of selling pressure before reassessing.
Taking partial profits at the first target is advisable, as this allows for the realization of some gains while letting the remaining position ride out the potential for further downside, should the trade continue to unfold in favor of the bears.
Not financial advice — always manage your own risk 🙏
$ENA #ENAUSDT #bitmart #TradingSignals #Write2Earn