$ENA
/USDT is catching my attention right now đ
After that massive rejection from 0.1889, we've been slowly bleeding down to 0.1720. What's interesting is the volumeâwe saw 358M ENA traded in 24h, but the selling pressure has clearly cooled off.
I'm looking at MA60 at 0.1727 acting as a pivot. We dipped under it, then reclaimed. The chart is consolidating in a tight range between 0.1717 and 0.1732, building a potential compression zone.
Key Levels I'm Watching:
đč Resistance: 0.1732â0.1735 â breaks above this and we could retest 0.1889 highs
đč Support: 0.1717 (recent low) and 0.1720 (current price zone)
đč Volume is drying up on the consolidationâwaiting for the next move
My Take:
I'm not chasing here. I'd want to see a clean break above 0.1732 with volume picking up before considering a long. If we reject again and lose 0.1717, the next support around 0.1616 (24h low) could come into play.
đ Invalidation: A close below 0.1717 would weaken this setup significantly.
For now, I'm letting price decide which side of this range holds. Patience pays here.
Who's watching this one? Drop your thoughts below đ
#ENA #ethena_labs #crypto #Binance #TechnicalAnalysis
/USDT is catching my attention right now đ
After that massive rejection from 0.1889, we've been slowly bleeding down to 0.1720. What's interesting is the volumeâwe saw 358M ENA traded in 24h, but the selling pressure has clearly cooled off.
I'm looking at MA60 at 0.1727 acting as a pivot. We dipped under it, then reclaimed. The chart is consolidating in a tight range between 0.1717 and 0.1732, building a potential compression zone.
Key Levels I'm Watching:
đč Resistance: 0.1732â0.1735 â breaks above this and we could retest 0.1889 highs
đč Support: 0.1717 (recent low) and 0.1720 (current price zone)
đč Volume is drying up on the consolidationâwaiting for the next move
My Take:
I'm not chasing here. I'd want to see a clean break above 0.1732 with volume picking up before considering a long. If we reject again and lose 0.1717, the next support around 0.1616 (24h low) could come into play.
đ Invalidation: A close below 0.1717 would weaken this setup significantly.
For now, I'm letting price decide which side of this range holds. Patience pays here.
Who's watching this one? Drop your thoughts below đ
#ENA #ethena_labs #crypto #Binance #TechnicalAnalysis