$ENA is one of those coins that’s highly sensitive to momentum.
When the market is moving up, it can easily outperform; once it turns down, it tends to fall harder than others. Its price action is heavily driven by market sentiment and capital flows.
That said, I previously made a pretty good trade on this coin by buying near the bottom. I started building a position around 0.085 in the summer and exited early around 0.22. It was a satisfying trade.
After that, I kept waiting for a decent pullback so I could look for an opportunity to get back in. This range is starting to catch my interest.
If it breaks below 0.14 (the top of the previous range), I’m out. I think the 0.14–0.16 range is suitable for gradually building a long-term core position. I can live with a long lower wick on the daily chart dipping below the 200-day moving average, but ideally the daily candle closes above 0.14.
With coins like this, there’s nothing wrong with waiting for a clear trend signal before buying. There’s no need to rush in and catch a falling knife.
You might miss the very beginning of the move, but you’ll greatly reduce the risk of getting stuck in a persistent downtrend. To play it safe, you can wait for the lower-timeframe structure to turn bullish again before adding to your position. That’s also how I usually build a core position.
Honestly, there’s a lot of uncertainty in the market right now. BTC is sitting at a key major support level, after a sharp drop just the day before. So my plan is to build a position gradually in batches, keeping my average cost as low as possible, and hold for 3–6 months, betting on the market forming higher lows and starting a rebound.
I wouldn’t use this approach with perpetual futures. The volatility in between is too stressful, and it’s easy to get stopped out by a wick.
When the market is moving up, it can easily outperform; once it turns down, it tends to fall harder than others. Its price action is heavily driven by market sentiment and capital flows.
That said, I previously made a pretty good trade on this coin by buying near the bottom. I started building a position around 0.085 in the summer and exited early around 0.22. It was a satisfying trade.
After that, I kept waiting for a decent pullback so I could look for an opportunity to get back in. This range is starting to catch my interest.
If it breaks below 0.14 (the top of the previous range), I’m out. I think the 0.14–0.16 range is suitable for gradually building a long-term core position. I can live with a long lower wick on the daily chart dipping below the 200-day moving average, but ideally the daily candle closes above 0.14.
With coins like this, there’s nothing wrong with waiting for a clear trend signal before buying. There’s no need to rush in and catch a falling knife.
You might miss the very beginning of the move, but you’ll greatly reduce the risk of getting stuck in a persistent downtrend. To play it safe, you can wait for the lower-timeframe structure to turn bullish again before adding to your position. That’s also how I usually build a core position.
Honestly, there’s a lot of uncertainty in the market right now. BTC is sitting at a key major support level, after a sharp drop just the day before. So my plan is to build a position gradually in batches, keeping my average cost as low as possible, and hold for 3–6 months, betting on the market forming higher lows and starting a rebound.
I wouldn’t use this approach with perpetual futures. The volatility in between is too stressful, and it’s easy to get stopped out by a wick.
