You'll hardly see me posting an #altcoin chart before a #BTC chart, but I'm doing it because it seems like there are a lot of people on it and they constantly ask me about it, so let's do it.

#ENA has performed well within expectations for good Altcoins in 2024, see that since the bottom we have risen around +560%, and we have preserved until today's date +300%. If you ask me if I think it is a reasonable gain to maintain, I would say YES, realize that we have great altcoins that are preserving this too, so it is in line with everything else.

That said, let's go to the current moment...

ENA spent a long 1 month trying to break its resistance at 41.32 and make a new ATH, but it couldn't and with all this CHAOS it came to a known support (red circle on the left). Although it is not the strongest support, it is still a support that should hold the price and make it bounce at least to $0.84, which is exactly the level that the bulls need to act.

There is a lot of interest in these current prices up to the gray band of the strongest support at ($0.67), so I think we will bounce from that region soon. Of course, we do not necessarily need to go to the lowest support (gray band) to bounce, this is a good place, but I am not really interested in it being here or lower where it will bounce, but rather in its rise to $0.84/0.90, the upward region is more dangerous than the downward region, to be quite honest.

Recovering that region and forming support there is crucial for the chart, or we will start to have problems here.

I think we will succeed in recovering there clearly and cleanly, but I will continue to watch that region.
#altcoin #BTC #ENA