If you're still buying $ENA every time it sits mid-range, stop now.
These choppy ranges have quietly drained more accounts than most of the actual dumps. You catch what looks like a dip, then watch it grind sideways while conviction fades and $ETH does nothing to help.
$ENA is sitting at $0.1909, almost exactly in the middle of the $0.1658 to $0.2178 band that has held for three days. Resistance is 14.1% higher and support 13.1% lower. RSI is a perfectly neutral 50 and volume is average. Some will call this a healthy base and argue a clean break of $0.2178 sends it running.
I don't see it that way. The 20 MA has stayed below the 50 for 38 straight hourly candles. That is a downtrend taking a nap, not a reversal setup. The last 24 hours only stretched from $0.1827 to $0.1973 and price is parked in the middle of that too. Until $BTC actually leads, this just looks like another liquidity farm.
Are you treating this as accumulation or just another range trap?
#ENA #CryptoTrading #Altcoins
These choppy ranges have quietly drained more accounts than most of the actual dumps. You catch what looks like a dip, then watch it grind sideways while conviction fades and $ETH does nothing to help.
$ENA is sitting at $0.1909, almost exactly in the middle of the $0.1658 to $0.2178 band that has held for three days. Resistance is 14.1% higher and support 13.1% lower. RSI is a perfectly neutral 50 and volume is average. Some will call this a healthy base and argue a clean break of $0.2178 sends it running.
I don't see it that way. The 20 MA has stayed below the 50 for 38 straight hourly candles. That is a downtrend taking a nap, not a reversal setup. The last 24 hours only stretched from $0.1827 to $0.1973 and price is parked in the middle of that too. Until $BTC actually leads, this just looks like another liquidity farm.
Are you treating this as accumulation or just another range trap?
#ENA #CryptoTrading #Altcoins
