⚠️ The $ENA coin rejects the slanted resistance line and is preparing for a corrective downward wave
🔴 Technical direction: a decisive and sharp bearish rejection from the upper green slanted resistance line
📍 Monitoring zone: 0.1615 – 0.1635
🎯 Corrective price targets:
• Target 1: 0.1579
• Target 2: 0.1560
• Target 3: 0.1540
❌ Invalidation: a 45-minute candle close above 0.1680
💡 Technical rationale: price showed significant weakness by forming a red bearish candle with a very long upper wick right after touching the upper slanted rejection line, along with the oscillator being in the overbought range, a decline in short-term momentum, confirmation of a negative crossover, and the appearance of a sharp overbought indicator with a shift in bias toward mild bearishness
🔴 Technical direction: a decisive and sharp bearish rejection from the upper green slanted resistance line
📍 Monitoring zone: 0.1615 – 0.1635
🎯 Corrective price targets:
• Target 1: 0.1579
• Target 2: 0.1560
• Target 3: 0.1540
❌ Invalidation: a 45-minute candle close above 0.1680
💡 Technical rationale: price showed significant weakness by forming a red bearish candle with a very long upper wick right after touching the upper slanted rejection line, along with the oscillator being in the overbought range, a decline in short-term momentum, confirmation of a negative crossover, and the appearance of a sharp overbought indicator with a shift in bias toward mild bearishness
