At this level, the bulls and bears are already at odds. $ENA is trading at 0.1275, down 7.54% on the day and just a step above its 24-hour low of 0.1267.
It’s slid all the way down from 0.1427. Anyone holding it probably isn’t sleeping easy right now: sell and you risk getting out at the bottom; buy more and you worry there’s still further to fall. It’s a real dilemma. The RSI has already dropped to 18.7. The sell-off has been sharp and relentless, so it’s definitely oversold in the short term—but oversold doesn’t mean it’s done falling.
I’d rather wait and watch for now, since there’s no sign the downtrend is letting up. Jumping in too soon could mean trying to catch a falling knife. But if it breaks below the 0.1267 low, I’ll change my mind immediately. That would mean there’s more room to fall, and we’d need to reassess.
At a level like this, would you step in now, or wait until it’s finished falling?
$ENA
#ENA #MarketAnalysis
It’s slid all the way down from 0.1427. Anyone holding it probably isn’t sleeping easy right now: sell and you risk getting out at the bottom; buy more and you worry there’s still further to fall. It’s a real dilemma. The RSI has already dropped to 18.7. The sell-off has been sharp and relentless, so it’s definitely oversold in the short term—but oversold doesn’t mean it’s done falling.
I’d rather wait and watch for now, since there’s no sign the downtrend is letting up. Jumping in too soon could mean trying to catch a falling knife. But if it breaks below the 0.1267 low, I’ll change my mind immediately. That would mean there’s more room to fall, and we’d need to reassess.
At a level like this, would you step in now, or wait until it’s finished falling?
$ENA
#ENA #MarketAnalysis