My Analysis: The price is currently rejected at the MA 7 ($0.1054) and remains trapped under the MA 99 ($0.1122), which is serving as a strong overhead ceiling. The overall structure is bearish, characterized by a series of lower highs. Volume on the recent minor bounces has been thin, suggesting a lack of buyer conviction and a likely continuation of the downtrend.
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$ENA /USDT Short Setup
Entry: $0.1040 - $0.1055
TP1: $0.0980
TP2: $0.0920
TP3: $0.0850
SL: $0.1130
My Analysis: The price is currently rejected at the MA 7 ($0.1054) and remains trapped under the MA 99 ($0.1122), which is serving as a strong overhead ceiling. The overall structure is bearish, characterized by a series of lower highs. Volume on the recent minor bounces has been thin, suggesting a lack of buyer conviction and a likely continuation of the downtrend.