$ENA After a strong volume-driven rally, the pullback volume has contracted for two consecutive hours. The more worthwhile setup to watch is the transition from prior high to support, rather than chasing the big bullish candle from the morning.
At 8:00 Beijing time, ENA closed at 0.2349, breaking above the 0.2248 to 0.2259 zone formed by the earlier highs from 4 to 7 o'clock. It then pulled back over the next two hours, with volume by 10:00 down to about half of what it was at 8:00, while the price still closed at 0.2287. Some of the gains were given back, but the original consolidation area has not been reclaimed yet.
In the same hour, Bitcoin pulled back after a surge and closed lower, while ENA closed higher. The short-term bid support appears relatively stronger; however, lower volume alone still does not prove sufficient buying pressure.
Next, watch 0.2253 to 0.2259: these are respectively the 10:00 pullback low and the 7:00 prior high. If this area holds and volume expands again while price closes back above the 9:00 high of 0.2375, continuation will have stronger support. If the hourly close falls below 0.2253, this support observation becomes invalid, and the decline should not be treated as a bargain entry.
Data as of September 25, 11:03 (UTC+8), Binance spot 1-hour chart, latest candle not yet closed. For condition monitoring only, no trade executed.
Source: https://www.binance.com/en/trade/ENA_USDT?type=spot
At 8:00 Beijing time, ENA closed at 0.2349, breaking above the 0.2248 to 0.2259 zone formed by the earlier highs from 4 to 7 o'clock. It then pulled back over the next two hours, with volume by 10:00 down to about half of what it was at 8:00, while the price still closed at 0.2287. Some of the gains were given back, but the original consolidation area has not been reclaimed yet.
In the same hour, Bitcoin pulled back after a surge and closed lower, while ENA closed higher. The short-term bid support appears relatively stronger; however, lower volume alone still does not prove sufficient buying pressure.
Next, watch 0.2253 to 0.2259: these are respectively the 10:00 pullback low and the 7:00 prior high. If this area holds and volume expands again while price closes back above the 9:00 high of 0.2375, continuation will have stronger support. If the hourly close falls below 0.2253, this support observation becomes invalid, and the decline should not be treated as a bargain entry.
Data as of September 25, 11:03 (UTC+8), Binance spot 1-hour chart, latest candle not yet closed. For condition monitoring only, no trade executed.
Source: https://www.binance.com/en/trade/ENA_USDT?type=spot
