ENA Technical Analysis Feb 23

ENA is approaching critical supports at the 0.10$ level; although in the oversold region (RSI 26), the downward trend maintains dominance, and 0.0954$ is key for potential liquidity hunt.

Current Price Position and Critical Levels

ENA is currently trading at the 0.10$ level and is positioned in a clear downtrend within the overall market structure. 24-hour change is negative at -2.59%, price remains below EMA20 (0.12$), and the Supertrend indicator is giving a bearish signal (resistance 0.13$). In multi-timeframe (MTF) analysis, 4 strong levels were identified on 1D, 3D, and 1W charts: each timeframe shows 1 support and 1 resistance confluence. These levels are supported by past tests, volume accumulations, and order blocks. Price has been squeezed in a narrow range (0.10$ – 0.10$) over the last 24 hours, which may indicate accumulation before volatility. Volume is at a medium level of 171.49M$, but the downtrend momentum continues despite RSI 26 being oversold.

Support Levels: Buyer Pools

Primary Support

The strongest support level is 0.0954$ (score: 78/100). This level formed as the order block of the last downward wave on the 1D timeframe; it has been tested 3 times in the past when price approached it and rejected with strong buying volume. It also shows demand zone confluence on the 3D chart – a 2x volume increase was observed at a similar bottom in October 2025. On 1W, it coincides with the weekly pivot and Fibonacci 0.618 retracement. Why is it important? This area forms a liquidity pool; ideal for stop-loss hunts and could trigger the 0.0390$ downside target on a break below. Hold probability is high, as RSI is oversold and MTF support confluence offers 78% reliability.

Secondary Support and Stop Levels

Secondary supports are the 0.09$ – 0.092$ band and ultimate invalidation below 0.085$. The 0.09$ level coincides with swing low and volume profile POC (Point of Control) on 1D; it has a 75% hold rate across 4 past tests. A close below 0.0954$ confirms the bearish structure and leads to the 0.0390$ target (score 22/100) – this is the monthly low and liquidity gap. If buyer strength weakens here, panic selling could be triggered.

Resistance Levels: Seller Pools

Near-Term Resistances

The main near-term resistance is 0.0988$ (score: 61/100). This level is the supply zone of the last rally on 1D and in confluence with EMA10; price has been rejected twice with increased selling pressure on volume. Supertrend resistance is near 0.13$, a liquidity target for short-term short positions. Breakout is difficult, as momentum favors sellers in the downtrend.

Main Resistance and Targets

Main resistances are 0.12$ (EMA20) and 0.13$ (Supertrend), upside target 0.1443$ (score 25/100). 0.12$ is a strong resistance block on the 3D chart – only 1 breakout in 5 tests, with high-volume rejections. On 1W, it aligns with Fibonacci 0.382 extension. 0.1443$ is a potential R:R 1:3 ratio target; however, reach probability is low if BTC correlation is negative. These levels are areas where big players accumulate selling liquidity.

Liquidity Map and Big Players

Big players (smart money) are hunting stops below the 0.0954$ support; this is a liquidity pool ideal for downward liquidity grab. Above, equal highs/lows between 0.0988$ – 0.10$ offer short squeeze liquidity. In order flow analysis, imbalances on 1D point to 0.0954$ – if price reaches there, buyers enter, but on break, quick sweep to 0.0390$. Volume delta is negative, seller dominance; large wallets may have opened shorts above 0.12$. The liquidity map awaits a break of 0.0954$ for downtrend continuation.

Bitcoin Correlation

BTC is in a downtrend at 64,176$ level (-4.82% change) with Supertrend bearish; altcoins like ENA are tied to BTC with 0.85% correlation. BTC supports at 62,940$, 61,102$, and 49,685$ are critical – if BTC drops below 62,940$, ENA’s 0.0954$ break accelerates. Resistances at 64,323$, 66,606$; if BTC recovers, ENA could test 0.0988$. Rising dominance crushes altcoins, caution: BTC below 61k is a red flag for ENA.

Trading Plan and Level-Based Strategy

Level-based outlook: Hold above 0.0954$ for long bias bounce to 0.0988$ – 0.12$ (R:R 1:2.5, target 0.1443$). On break, short: below 0.0954$, target 0.0390$, invalidation above 0.10$. Monitor support hold for ENA Spot Analysis; use liquidity targets for leverage in ENA Futures Analysis. This is a general market view, not personal advice – risk management essential (stop 1-2%).