#ENAUSDT Ready for a Breakout? Analysis of a Long Accumulatio

May 24

#ENA

The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary. It is now poised for a bounce and is expected to retest this boundary.

The Relative Strength Index (RSI) indicates a downward trend, which is likely to continue given the overbought conditions.

There is a key support zone (in green) at 0.0880. The price has bounced off this zone several times, making it a strong support level.

The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.

Entry Price: 0.1015

First Target: 0.1053
Second Target: 0.1097
Third Target: 0.1147

You can stop at the first and second targets and close below them, or continue towards the third target. Stop Loss: At the resistance zone (in green).

Remember this simple rule: Money Management.

Any questions? Please leave a comment.

Thank you.

Jun 4

Trade closed: target reached

#ENA
First Target: 0.1053 Reached
Second Target: 0.1097 Reached
Third Target: 0.1147 Reached