On September 26, the volume bar suddenly surged to 1.06B, and the price touched 0.2678. But that massive volume spike was isolated: volume on the surrounding days was only about half as high. Over the next six days, the price fell back to 0.2323, and the 7-day return turned to -5.08%. Today it's up +3.26%, and $ENA is back at 0.246—right around the midpoint of this move. With a 30-day gain of +50.41% alongside a one-year loss of -60.31%, this looks more like a strong rebound within a larger downtrend than the start of a new cycle.
The disagreement is over what September 26 represented: the first volume surge after accumulation, or the emotional peak of a rebound. The first scenario requires volume to pick up again, the price to reclaim 0.268, and the 7-day return to turn positive. The second would mean that the huge-volume day was distribution, and a break below 0.232 would accelerate the retracement of the rebound.
I won't rule either scenario out—the data hasn't provided enough evidence to favor one. I'm more focused on 0.245 as the midpoint: after three days of declining volume, is there buying interest returning at this level? Price can mislead you briefly; sustained volume can't. Those expecting a confirmed breakout and those expecting the rebound to end might each mark a line in the comments: what price would you chase above, and what price would make you exit below? Come back in a few days and see how it played out.
The disagreement is over what September 26 represented: the first volume surge after accumulation, or the emotional peak of a rebound. The first scenario requires volume to pick up again, the price to reclaim 0.268, and the 7-day return to turn positive. The second would mean that the huge-volume day was distribution, and a break below 0.232 would accelerate the retracement of the rebound.
I won't rule either scenario out—the data hasn't provided enough evidence to favor one. I'm more focused on 0.245 as the midpoint: after three days of declining volume, is there buying interest returning at this level? Price can mislead you briefly; sustained volume can't. Those expecting a confirmed breakout and those expecting the rebound to end might each mark a line in the comments: what price would you chase above, and what price would make you exit below? Come back in a few days and see how it played out.