Waiting for Stronger Signal
Hi traders,
Quick update. 3 and 2.7/2.8 support levels didn’t hold during Sunday’s crash in the crypto space. Next supports are 2.5 and 2.35ish, which used to be previous resistance levels. Ideally we’d want to see a break above the 2.50 again or even 2.8 on the daily chart to become bullish. I am not bearish and i think this is just part of the consolidation before we run towards new highs. Correlation with the stock market has increased so keep that in mind too. if you have no position on, 2.35 seems to be a good initial entry level with a first target 2.5, then 2.75/2.8 before 3.
I am rating the current price action as neutral until we see ENJ above 2.5 again.
I hope this analysis help.
Quick update. 3 and 2.7/2.8 support levels didn’t hold during Sunday’s crash in the crypto space. Next supports are 2.5 and 2.35ish, which used to be previous resistance levels. Ideally we’d want to see a break above the 2.50 again or even 2.8 on the daily chart to become bullish. I am not bearish and i think this is just part of the consolidation before we run towards new highs. Correlation with the stock market has increased so keep that in mind too. if you have no position on, 2.35 seems to be a good initial entry level with a first target 2.5, then 2.75/2.8 before 3.
I am rating the current price action as neutral until we see ENJ above 2.5 again.
I hope this analysis help.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.