- ENA’s price action mirrors that of past breakouts, with the $0.30–$0.35 support level being watched by analysts for a reversal.
- A break above $0.45 would be a confirmation of a momentum shift, and targets would be at $0.46 and above $0.97.
- Analysts point out that the holding of key support levels is crucial for bullish momentum and that failure could signal further downside.
ENA/USDT pair continued in a downtrend from the high above $1.20 to the present range of about $0.35. Analysts are monitoring significant price action, with a focus on a potential breakout from the present consolidation phase.
Analysts Assess Market Patterns and Potential Breakout
Lucky has analyzed the price trend and identified similarities to previous market movements, particularly the October breakout. He noted that ENA has formed a descending channel, with the price now testing support around $0.30. This level has previously marked a turning point, suggesting possible buying interest.
Lucky also pointed out that price movements have consistently respected resistance and support levels within the channel. A recent attempt to break the lower boundary mirrors past conditions that led to major rallies. If ENA follows a similar pattern, it could first recover toward the $0.46 resistance before pushing beyond $0.97.
Market Response and Resistance Levels
Lucky further explained that the green zone on the price chart indicates a possible recovery path, aligning with past trends. He emphasized that holding support above the $0.33–$0.35 range could build bullish momentum. However, losing this level may weaken the case for an upward move.
Randy Fox has also weighed in, stating that a breakout requires the price to rise above $0.45. He noted that this level has acted as a key barrier in past cycles, and surpassing it could shift market momentum. Fox also mentioned that broader market sentiment at the current support will be a deciding factor in whether a strong recovery occurs.
With analysts closely watching resistance levels, market participants remain focused on upcoming price movements. Technical indicators suggest that a breakout remains possible if buying pressure increases.
