If you're still fading every $ENA reclaim of the $0.21 zone, stop now.
The real pain is selling too early, watching it grind toward $0.26, then buying the wick at resistance. That loop is how traders miss the move and give it back on the re-entry.
$ENA reclaimed $0.21,$0.22 and is trading around $0.26. Bears will say this bounce dies at $0.294,$0.30 the moment $BTC or $ETH wobbles. That's a valid risk.
The daily structure is still intact though. As long as that support holds, $0.29,$0.30 is the next magnet. A breakout there opens the path to $0.316.
I'm on the bullish side of this debate. Reclaims of a defended zone usually matter more than the overextended take. The breakdown camp is still waiting for a level that has not given way.
Are you fading this reclaim or riding it toward $0.30?
#ENA #Ethena #TechnicalAnalysis
The real pain is selling too early, watching it grind toward $0.26, then buying the wick at resistance. That loop is how traders miss the move and give it back on the re-entry.
$ENA reclaimed $0.21,$0.22 and is trading around $0.26. Bears will say this bounce dies at $0.294,$0.30 the moment $BTC or $ETH wobbles. That's a valid risk.
The daily structure is still intact though. As long as that support holds, $0.29,$0.30 is the next magnet. A breakout there opens the path to $0.316.
I'm on the bullish side of this debate. Reclaims of a defended zone usually matter more than the overextended take. The breakdown camp is still waiting for a level that has not given way.
Are you fading this reclaim or riding it toward $0.30?
#ENA #Ethena #TechnicalAnalysis
