We're looking for ENA to successfully hold the critical all-time low support zone and show confirmation of a bounce before potentially reversing its short-term downtrend back to the upside. This setup provides an opportunity to position for a long spot trade, capitalizing on the oversold RSI and the proximity to major historical lows.
Trade Setup: Capturing the Bounce
Entry Zone: $0.22 – $0.25 (Entering at the current price level, which is the established major support zone).
Take Profit Targets:
🥇 $0.35 (Targeting the first key structural resistance/previous local swing high).
🥈 $0.46 (Targeting the next major psychological and structural resistance level).
Stop Loss: $0.17 (Placing the stop loss below the critical support level to manage risk in case of a breakdown).
Trade Setup: Capturing the Bounce
Entry Zone: $0.22 – $0.25 (Entering at the current price level, which is the established major support zone).
Take Profit Targets:
🥇 $0.35 (Targeting the first key structural resistance/previous local swing high).
🥈 $0.46 (Targeting the next major psychological and structural resistance level).
Stop Loss: $0.17 (Placing the stop loss below the critical support level to manage risk in case of a breakdown).
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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.