$ENJ $ENJ 8h Price Chart Analysis: | - Currently, the market is in a bearish phase and I expect further downside or at least a retest of the 0.05000 and 0.04300 supports before any significant reversal.
- If price climbs back above 0.05720 and consolidates there, I would shift to a more neutral or bullish bias for a move toward 0.07330. However, unless that happens, I expect sellers to remain in control.
- The best scenario right now is to wait for price to approach the 0.05720–0.07330 resistance, look for bearish confirmation, and consider a short targeting 0.05000 and 0.04300.
- To enter a short, wait for a clear rejection pattern on the 8h or 4h chart (like a pin bar, bearish engulfing, or a sweep of highs with fast rejection) and place your stop at the most recent swing high above the pattern.
- If price aggressively sweeps below 0.05000 or 0.04300 and immediately reverses with strong bullish patterns, you could consider a long, but only with clear confirmation and a stop below the new swing low.
- My bias only changes if price closes and holds above 0.07330, which would signal a potential shift toward the next resistance at 0.10478.
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