#ENS is moving inside a broad range with a descending top trendline, and recently formed a short-term ascending channel pushing price upward. Now that local structure is running straight into macro resistance, which is the key point here.
What’s happening:
Price respected the range low (~5.3–5.4) multiple times
Built a higher low structure → short-term bullish pressure
But now it’s hitting the descending trendline + horizontal resistance (~6.2–6.5)
So this is a classic trendline compression against HTF resistance.