ENA
Who’s brave enough to catch this falling knife? ENA has been getting hammered after the recent listing hype cooled off, while the broader crypto market is digesting mixed headlines about liquidity and risk appetite according to industry sources. Today’s drop flushed late longs, and you can see the market clearly hunting stops below the prior range.
On the 4H chart, price is sitting in a fresh demand pocket with RSI buried around oversold, trying to curl up. I’m leaning toward a short term relief bounce rather than chasing new shorts down here. First liquidity magnets for me are the inefficiency zones above: roughly the 0.083 area, then 0.086, and if momentum really wakes up, the 0.09 supply band where previous heavy selling came in.
My game plan: ✅ bullish scalp bias while this local low holds. If buyers defend the current base and we see a push back into 0.083, I’m interested in quick longs toward 0.086 and maybe 0.09. If price nukes straight through today’s low and closes below the demand zone, idea is invalidated and I step aside and wait for a deeper discount. I might be wrong, but fading exhausted panic on new listings has paid my bills more than once.