$ENA bounced off 0.1837 yesterday and is back around 0.194, but every push toward 0.20 keeps getting sold. Still down about 3% on the day on Binance futures, so this bounce hasn't proven anything yet.
NanoTrading Fire chart 4h is pretty clear on where the fuel is. Biggest cluster on the board is ~$113.8M of shorts around 0.214, while two long stacks (~$67M and ~$59M) sit right under price near 0.192. POC is 0.1989, VAL 0.1845, so price is stuck just below value with the heaviest heat bands at 0.198-0.202.
Positioning leans long. ~61% of Binance accounts are long (L/S ~1.59) and top traders are around 61% long too. Funding is mildly positive (~0.005%), and OI slipped from ~495M to ~485M ENA during the dip, so some longs already got flushed but not all of them.
My read: lose 0.192 and those long stacks get swept, probably back to the 0.184-0.185 area. Reclaim 0.199 POC with volume and the 0.214 shorts become the magnet. Watching
$BTC too since ENA won't do much alone ๐
Are you fading the 0.20 rejection on
$ENA or waiting for the 0.214 squeeze?
NFA, just how i see it.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#ENA #CryptoTrading #NanoTrading