Here's what happened when traders rushed to chase the recent rally on $ENA without looking at the overhead supply.
Most market participants get trapped in the exact same cycle, jumping into green candles after a bounce only to end up holding the bag right beneath major resistance.
Taking a closer look at the chart, price managed to reclaim the $0.21,$0.22 base and pushed up toward the $0.26 mark. While the local structure looks constructive on the surface, the upside path is far from guaranteed. Just ahead lies a heavy supply wall between $0.294 and $0.30, followed by $0.316.
The hidden risk here is continuation failure. If buyers fail to defend that reclaimed $0.21 support floor, this push turns into liquidity for sellers, exposing late buyers to severe downside before any real breakout ever materializes. In markets like this, watching the invalidation level matters far more than obsessing over the upside target.
Where do you think this goes from here?
#CryptoAnalysis #TradingStrategy #RiskManagement
Most market participants get trapped in the exact same cycle, jumping into green candles after a bounce only to end up holding the bag right beneath major resistance.
Taking a closer look at the chart, price managed to reclaim the $0.21,$0.22 base and pushed up toward the $0.26 mark. While the local structure looks constructive on the surface, the upside path is far from guaranteed. Just ahead lies a heavy supply wall between $0.294 and $0.30, followed by $0.316.
The hidden risk here is continuation failure. If buyers fail to defend that reclaimed $0.21 support floor, this push turns into liquidity for sellers, exposing late buyers to severe downside before any real breakout ever materializes. In markets like this, watching the invalidation level matters far more than obsessing over the upside target.
Where do you think this goes from here?
#CryptoAnalysis #TradingStrategy #RiskManagement
