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🔥 $ENSO Bullish Setup (1D)
📊 Market Structure:
The $ENSO / $USDT daily chart shows a significant period of consolidation after a long-term downtrend from its October highs. Recently, we’ve seen a strong impulsive bounce from the $0.54 local bottom, accompanied by a spike in volume. The price is currently attempting to break and hold above the EMA(20) ($0.669) and EMA(50) ($0.754) levels. A sustained move above these moving averages would confirm a structural shift from bearish to bullish.
🟢 Support Zone:
Primary Support: $0.54 - $0.58 (Recent local low and demand zone).
Secondary Support: $0.65 (Previous resistance turned support).
🔴 Resistance Zone:
Immediate Resistance: $0.92 (Recent 24h high and horizontal level).
Major Resistance: $0.97 - $1.00 (Psychological level and confluence with the EMA 100).
🎯 Trade Idea:
Entry Logic: Look for a daily candle close above the $0.850 mark (current price) to confirm the breakout of the immediate consolidation. Alternatively, a retest of the $0.75 (EMA 50) area provides a safer entry.
Take Profit: Targets at $1.15 and $1.40 if momentum carries past the $1.00 psychological barrier.
Stop Loss: Below the recent swing low at $0.53.
⚠️ Risk Management:
Always protect your capital. Stick to the 1–2% risk rule—never risk more than 1–2% of your total account balance on a single trade. Crypto markets, especially mid-cap assets like $ENSO , are highly volatile.
💡 Bias:
Bullish. The chart shows clear signs of bottoming out, and the green arrow indicates a strong recovery path. As long as the $0.54 support holds, the path of least resistance appears to be upward.
#ENSO #cryptotrading #priceaction #altcoins #afrtraders
$ENSO
📊 Market Structure:
The $ENSO / $USDT daily chart shows a significant period of consolidation after a long-term downtrend from its October highs. Recently, we’ve seen a strong impulsive bounce from the $0.54 local bottom, accompanied by a spike in volume. The price is currently attempting to break and hold above the EMA(20) ($0.669) and EMA(50) ($0.754) levels. A sustained move above these moving averages would confirm a structural shift from bearish to bullish.
🟢 Support Zone:
Primary Support: $0.54 - $0.58 (Recent local low and demand zone).
Secondary Support: $0.65 (Previous resistance turned support).
🔴 Resistance Zone:
Immediate Resistance: $0.92 (Recent 24h high and horizontal level).
Major Resistance: $0.97 - $1.00 (Psychological level and confluence with the EMA 100).
🎯 Trade Idea:
Entry Logic: Look for a daily candle close above the $0.850 mark (current price) to confirm the breakout of the immediate consolidation. Alternatively, a retest of the $0.75 (EMA 50) area provides a safer entry.
Take Profit: Targets at $1.15 and $1.40 if momentum carries past the $1.00 psychological barrier.
Stop Loss: Below the recent swing low at $0.53.
⚠️ Risk Management:
Always protect your capital. Stick to the 1–2% risk rule—never risk more than 1–2% of your total account balance on a single trade. Crypto markets, especially mid-cap assets like $ENSO , are highly volatile.
💡 Bias:
Bullish. The chart shows clear signs of bottoming out, and the green arrow indicates a strong recovery path. As long as the $0.54 support holds, the path of least resistance appears to be upward.
#ENSO #cryptotrading #priceaction #altcoins #afrtraders
$ENSO
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