$ENA ENA: Touching the "life and death" support zone – Opportunity for recovery from the bottom of the price channel?
The ENA currency is currently at a crucial technical turning point as the price approaches the extreme support zone on the 3-day (3D) chart. Observing the chart, we see that ENA is moving right at the lower boundary of a long-term downtrend channel – a place where history shows that buying pressure often appears strongly to prevent further declines.
The most noteworthy point at this moment is the clear weakening of the Selling side. The situation is such that instead of vertical drops, the selling pressure is showing signs of slowing down, making way for a recovery structure to begin forming. When selling has exhausted right at this solid psychological support zone, a bounce is a very feasible scenario. If buying power remains stable, ENA could trigger a growth trend towards short-term targets at $0.19 and $0.25. In a more optimistic scenario when breaking out of the downtrend channel, further milestones like $0.46, $0.88, or even $1.32 could completely be reached.
For investors, this is a phase that requires careful observation. The price maintaining this support zone is a confirmation of the return of the bulls. Pay attention to trading volume; a sudden spike here will be the ignition for a strong recovery cycle. Don’t miss the moment when the spring is tightly compressed right at the strategic bottom.
