$ENA is down about 2.7% on the day near 0.188, and it's still chopping in the 0.186-0.196 box it built after that nasty 4h dump from 0.21 to the 0.166 wick two days ago. About $154M traded on futures in 24h, so it's not dead, just undecided.
On the NanoTrading Fire chart (4h) the thickest bids sit right under price around 0.178-0.182, and the liquidation heatmap shows the heavy long liq band stacked just below that at roughly 0.17-0.175. Shorts are thinner and higher up, mostly 0.21-0.22, which also lines up with the volume POC near 0.207 from before the drop.
Futures look tired rather than crowded. Funding has been flat to slightly negative, OI drifted from about 547M to 528M ENA while price ground sideways, and top traders are still about 1.75 long. Longs haven't really left, they're just not adding.
My read: as long as 0.178 holds, $ENA can grind back toward 0.196 and maybe tag the 0.207 POC. If those bids get pulled, the 0.17-0.175 long liqs are the obvious magnet and I'd expect a fast wick there first 👀
Do you think ENA reclaims 0.20 this week, or do the longs under 0.178 get flushed first?
NFA, just my chart notes.
#CZDismissesClaimsBinanceHackWasPredicted $ENA
On the NanoTrading Fire chart (4h) the thickest bids sit right under price around 0.178-0.182, and the liquidation heatmap shows the heavy long liq band stacked just below that at roughly 0.17-0.175. Shorts are thinner and higher up, mostly 0.21-0.22, which also lines up with the volume POC near 0.207 from before the drop.
Futures look tired rather than crowded. Funding has been flat to slightly negative, OI drifted from about 547M to 528M ENA while price ground sideways, and top traders are still about 1.75 long. Longs haven't really left, they're just not adding.
My read: as long as 0.178 holds, $ENA can grind back toward 0.196 and maybe tag the 0.207 POC. If those bids get pulled, the 0.17-0.175 long liqs are the obvious magnet and I'd expect a fast wick there first 👀
Do you think ENA reclaims 0.20 this week, or do the longs under 0.178 get flushed first?
NFA, just my chart notes.
#CZDismissesClaimsBinanceHackWasPredicted $ENA