$ENA daily chart is above MA50 (0.2002), up 9.38% over 24h.
Building on this data, let’s talk about moving averages.
Moving averages themselves are often seen as moving support or resistance: when the price is above a moving average and pulls back toward it, many people watch to see whether it holds.
In a ranging market, the price crosses back and forth over the moving average, so signals that it has moved above or below it can easily be false. Moving averages are more useful in a trending market.
The same data can mean very different things in different market conditions, so don’t apply any single rule mechanically.
#ENA
I may not be right, so don’t follow this as advice.
Building on this data, let’s talk about moving averages.
Moving averages themselves are often seen as moving support or resistance: when the price is above a moving average and pulls back toward it, many people watch to see whether it holds.
In a ranging market, the price crosses back and forth over the moving average, so signals that it has moved above or below it can easily be false. Moving averages are more useful in a trending market.
The same data can mean very different things in different market conditions, so don’t apply any single rule mechanically.
#ENA
I may not be right, so don’t follow this as advice.