The ENA/USDT daily chart shows a descending triangle formation with price currently testing the upper resistance trendline around $0.419. A breakout above this level could trigger a strong bullish move. The RSI (14) is hovering around 53, suggesting building momentum from the bulls.
Once the breakout is confirmed, we could see a rally toward the key resistance levels and Fibonacci extension targets at:
• $0.6072
• $0.7665
• $0.9776
• $1.2662
Additionally, a successful breakout could lead to a retest of the 200 EMA, potentially flipping it into support and signaling a longer-term trend reversal.
Trade Setup:
• Entry: After confirmed breakout above triangle resistance
• Stop Loss: Below $0.36 support zone
• Take-Profit Targets: $0.6072 / $0.7665 / $0.9776 / $1.2662
• Timeframe: Daily
Always manage your risk and wait for confirmation before entering the trade.
Once the breakout is confirmed, we could see a rally toward the key resistance levels and Fibonacci extension targets at:
• $0.6072
• $0.7665
• $0.9776
• $1.2662
Additionally, a successful breakout could lead to a retest of the 200 EMA, potentially flipping it into support and signaling a longer-term trend reversal.
Trade Setup:
• Entry: After confirmed breakout above triangle resistance
• Stop Loss: Below $0.36 support zone
• Take-Profit Targets: $0.6072 / $0.7665 / $0.9776 / $1.2662
• Timeframe: Daily
Always manage your risk and wait for confirmation before entering the trade.
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.