$ENJ The long liquidation at $0.05959 confirms a forced flush of leveraged buyers, pushing price into a lower liquidity zone and reinforcing bearish continuation. This move cleared weak hands below support, and the lack of immediate recovery signals that demand is still thin.
Market structure remains bearish with consistent lower highs and lower lows. The breakdown below $0.06100 removed a key support level, flipping it into resistance. Momentum is aligned with sellers, and price is trading under pressure with no strong reclaim. Liquidity now sits below recent lows, making further downside exploration the higher probability path.
EP: $0.06050
TP1: $0.05750
TP2: $0.05400
TP3: $0.05000
SL: $0.06350
Trend strength is clearly bearish as price continues to respect descending structure without any higher low formation. Momentum accelerated after the liquidation, showing strong seller control and weak buying response. Price is likely to continue toward lower liquidity pools as the market completes its downside imbalance.
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