$ENA is bearish. The chart shows a clear sequence of lower highs (0.29 -> 0.28 -> 0.26) and lower lows (0.24 -> 0.22)
· The current 1-hour rebound may be forming a lower high as it retests the broken support level, before continuing downward. This rebound appears to be a relief rally or short-covering rather than a trend reversal, due to the lack of strong bullish volume and momentum.
📉 Preferred short setup (trend continuation)
· $ENA short entry: 0.24 - 0.25 (watch for rejection in this area)
· Stop-loss: Above 0.26 (recent local high)
· Take-profit:
· TP1: 0.22 (recent swing low)
· TP2: 0.20-0.21 (psychological support)
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#ena #ethena
· The current 1-hour rebound may be forming a lower high as it retests the broken support level, before continuing downward. This rebound appears to be a relief rally or short-covering rather than a trend reversal, due to the lack of strong bullish volume and momentum.
📉 Preferred short setup (trend continuation)
· $ENA short entry: 0.24 - 0.25 (watch for rejection in this area)
· Stop-loss: Above 0.26 (recent local high)
· Take-profit:
· TP1: 0.22 (recent swing low)
· TP2: 0.20-0.21 (psychological support)
Support me by trading here 👇
#ena #ethena