The XRP strategy setup shared earlier has played out, and profits have been taken as expected. The real moves often hide in the aftermath of a reversal. $ENA On the four-hour chart, price has repeatedly tested the trendline while trading volume continues to decline. This low-volume rebound looks more like a continuation of the downtrend than a reversal.
The moving averages overhead continue to cap price, and each bounce is quickly pushed back down. The structure has formed a descending channel. If key support gives way, there could be a rapid expansion of downside potential. So at this level, I favor following the trend and looking for shorts rather than gambling on a false breakout. The weaker the rebound, the more at ease the bears become—isn’t that right?
🔴 Trade direction: Short
📍 Entry range: 0.19902 – 0.19402
🛑 Stop loss: 0.21603
🎯 Take profit 1: 0.19002
🎯 Take profit 2: 0.18002
🎯 Take profit 3: 0.16002
🎯 Take profit 4: 0.14002
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#ENA
Click below to trade 👇
The moving averages overhead continue to cap price, and each bounce is quickly pushed back down. The structure has formed a descending channel. If key support gives way, there could be a rapid expansion of downside potential. So at this level, I favor following the trend and looking for shorts rather than gambling on a false breakout. The weaker the rebound, the more at ease the bears become—isn’t that right?
🔴 Trade direction: Short
📍 Entry range: 0.19902 – 0.19402
🛑 Stop loss: 0.21603
🎯 Take profit 1: 0.19002
🎯 Take profit 2: 0.18002
🎯 Take profit 3: 0.16002
🎯 Take profit 4: 0.14002
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#ENA
Click below to trade 👇