🐳 $ENA 4-hour golden cross. A few thoughts from the perspective of chip distribution:
The bearish momentum histogram has printed 9 consecutive 4-hour candles, meaning sellers have been in control throughout this period. Now, selling pressure is starting to fade. However, the price is below the zero line, and there are plenty of trapped holders above. A rebound to the previous high-volume trading zone may encounter selling from holders looking to break even.
Follow for timely updates on unusual market moves.
The bearish momentum histogram has printed 9 consecutive 4-hour candles, meaning sellers have been in control throughout this period. Now, selling pressure is starting to fade. However, the price is below the zero line, and there are plenty of trapped holders above. A rebound to the previous high-volume trading zone may encounter selling from holders looking to break even.
Follow for timely updates on unusual market moves.