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$ENSO just printed a brutal move on Perps.
Spike to 1.6666 got fully rejected, followed by a straight cascade to 1.0893. That’s a clean liquidity grab at the top and a momentum dump after.
Now price sits near intraday low around 1.11 with heavy sell pressure and fading bounces on 15m.
Volatility is high. Structure is weak.
Either a sharp relief bounce soon… or continuation bleed if lows crack.
Traders watching this level closely.