$ENSO has paused after a strong rally, taking a short breather rather than showing weakness. The recent 12.7% surge pushed price higher before entering a consolidation phase, a common behavior during bullish trends as the market shakes out weak hands before the next move. As long as key support levels hold, the overall bias remains bullish.

Volume activity remains constructive, with recent candles showing strong participation around 2.214B. Most of this volume is appearing on upward moves, signaling that buyers are still active and stepping in at important levels.

Flow data shows a mixed but healthy structure. Spot markets recorded positive inflows of around +300K over the last 24 hours, suggesting dip buying, while derivatives saw contract outflows near -318K, likely reflecting profit-taking from short-term traders. This divergence often appears during accumulation phases.

From a price action perspective, $ENSO retraced about 5.87% from the 0.775 high but is still holding roughly 12.4% above recent lows, indicating stability rather than panic selling. On the 4H timeframe, open interest has increased by around 17.25% while price pulled back only modestly, hinting at accumulation. Although the daily chart shows some upper-wick rejection, holding above the 0.718 area keeps the bullish setup intact.

Trade perspective remains cautiously bullish. A retest of the 0.718–0.728 zone, where prior resistance turns into support, offers a favorable long opportunity.

Stop-loss is placed at 0.692, below the MA20 and recent swing low.

Upside targets are 0.775 initially, with an extension toward 0.785 if momentum continues.

Indicators support this bias, with MACD turning bullish and KDJ trending upward. Continued buying interest above support will be key to avoiding fake breakouts.

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