【$ENJ Signal】1H timeframe high-level consolidation, waiting for a pullback to go long

$ENJ After a surge on the 1H timeframe, it enters a high-level consolidation, with the upper band of the 4H Bollinger Bands at 0.0944 forming short-term resistance. The 1H MACD fast and slow lines have formed a death cross, and the histogram has turned negative. Market depth is imbalanced at -4.93%, with sell orders slightly thicker. Negative funding rate of -0.03% coexists with firm prices, indicating a basis for short squeeze.

The current price is at a daily high, so chasing higher directly carries significant risk. The risk-reward ratio is not favorable; it’s more suitable to wait for a healthy pullback.

🎯Direction: Pullback to go long (place order)

⚡Entry/Order: Near the lower boundary of 0.06252 - 0.08878 range, set a trap

🛑Stop loss: 0.04577

🚀Target 1: 0.09603

🚀Target 2: 0.11279

🛡️Trade management:
- Execution strategy: After the price reaches the entry zone, only enter if the 1H candlestick shows clear signs of a trend reversal (such as a long lower shadow). After reaching Target 1, reduce half of the position, and move the remaining stop loss up to the entry price.

On the 4H timeframe, the MACD has a golden cross, and the histogram is still expanding, indicating the trend is still intact. The 1H EMA50 at 0.0688, together with the middle band of the 4H Bollinger Bands at 0.0572, forms a support zone below. Volume has returned to normal after a spike, needing a period of consolidation to digest floating positions. Stable open interest shows that traders have not exited in large numbers; funds are still actively trading within the market.

Check real-time market 👇 $ENJ
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