- Ena’s outbreak of a convergence channel tested its decisive support, at main levels at $ 0.35 and $ 0.47
- The signals on the series were dirty, as the long qualifiers exceed the short pants
Aden [ENA] The distinctive symbol broke out recently from the descending canal style, which caused optimism among investors. At the time of writing this report, Altcoin’s value was $ 0.3583, after a 3.44 % decrease on the plans. The market value of Ena was 1.89 billion dollars, with trading volume over 24 hours 135.5 million dollars.
However, despite the completion, the ALTCOIN price continues to test the decisive levels, leaving the market inaccurate. Can Ena maintain this intermittent momentum, or will it fight to maintain upward pressure?
Prices ’work analysis – Are you preparing for a gathering or decline?
The price of the Ena was previously in a stage of monotheism, before collapsing from the concession channel. This penetration created a new price structure for Altcoin. With the price now near 0.3583 dollars, support levels may be about $ 0.35 decisive to sustain price.
If Ena is able to stick to this level, the resistance areas may target near $ 0.47 and may challenge the highest levels like $ 0.48, $ 0.68 and up to $ 1.00.
On the other hand, if the price fails to maintain subsidies at $ 0.35, the ENA can test the low support levels at $ 0.26 – indicating a possible decline in the price.
Source: TradingView
Signs on the series-Will the data raise the price up or down?
Drawing the series’s analysis is a fairly reporting picture of the Ena. Despite the collapse, the growth of the Safi network highlighted a decrease of 0.83 % – which raises a decrease in activity. In addition, a “money” scale is filled with a change of -0.80 %. This indicates that a large part of their holders is confused.
While the focus was slightly positive at 0.13 %, the large transactions were largely declining, with a significant decrease of -6.06 %, indicating more sales pressure in the market.
Combating, these signals on the series mean that the distinctive symbol may face great obstacles despite the latest technical outbreak.
Source: IntTHEBLOCK
Ena Open and references
The open interest in Ena increased by 3.38 %, increasing to 345.78 million dollars to confirm higher participation in the market, according to Coinglass. However, liquidation data revealed that long situations are more liquidated than short pants – $ 29.62 thousand in long qualifiers for 6.42 thousand dollars in short pants.
This nourishes the pressure down, but once this liquidation is cleared, the market may refresh.
For a constant rally, Ena needs to break the resistance levels about $ 0.47 and $ 0.48.
Source: Coinglass
Can Ena maintain its outbreak?
Although Ena’s last outbreak From the condolence channel, it raised hopes for increasing prices, the homosexual signals on the series and support levels indicated that the symbol may face challenges. If Ena is able to get more than $ 0.35 and exceed the resistance at $ 0.47, you may see a continuous rally towards the highest price goals.
However, without penetration of these critical levels, Ena can struggle to maintain any upward momentum. Therefore, while there is a possibility for more assembly, Ena must prove its ability to maintain the main support levels to confirm any upward trend.
