After a 6-month accumulation phase, ENA has finally shown strength with a clean breakout from the range, shifting its market structure. This rally marks what could be the first impulse wave in a broader trend reversal. Price action is now retesting the previous range high as support, which often serves as a springboard for continuation.
🔍 Retest in Progress
The current zone between $0.47–$0.55 is key. This level previously acted as resistance and is now showing signs of holding as support — a classic bullish retest. If buyers step in here, the setup aligns well with a Wave 2 retracement before another leg up.
🎯 Trade Idea
Entry Zone: $0.47 – $0.55 (Support zone)
Take Profit Targets:
→ TP1: $0.70 – $0.80
→ TP2: $0.90 – $1.15
Stop Loss: Daily close below $0.42 (structure invalidation)
✅ Clean structure, healthy retest, and clear invalidation make this setup attractive for trend continuation — but as always, wait for confirmation and manage risk.
🔍 Retest in Progress
The current zone between $0.47–$0.55 is key. This level previously acted as resistance and is now showing signs of holding as support — a classic bullish retest. If buyers step in here, the setup aligns well with a Wave 2 retracement before another leg up.
🎯 Trade Idea
Entry Zone: $0.47 – $0.55 (Support zone)
Take Profit Targets:
→ TP1: $0.70 – $0.80
→ TP2: $0.90 – $1.15
Stop Loss: Daily close below $0.42 (structure invalidation)
✅ Clean structure, healthy retest, and clear invalidation make this setup attractive for trend continuation — but as always, wait for confirmation and manage risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.