ENA Builds Momentum — Is a Major Breakout to $0.60 Next?
After a brief consolidation, ENA appears to be regaining bullish traction on the daily chart.
The token has been steadily climbing back toward the $0.50 region, where a major resistance zone is beginning to form. What’s more, price momentum is showing renewed strength as the short-term exponential moving averages (EMAs) tighten and begin to converge toward a potential bullish crossover.
ENA Momentum Turns Constructive
The 9-day EMA has begun curling upward toward the 20-day EMA — a sign that the short-term trend is starting to shift in favor of buyers. This transition usually suggests the market is moving out of a consolidation phase and preparing for a possible trend continuation to the upside.
Daily chart for ENA/USD (Source: GeckoTerminal)
The MACD histogram has also shown growing bullish momentum, indicating that selling pressure is easing and momentum is starting to favor the bulls.
Meanwhile, the Relative Strength Index (RSI) has climbed out of the lower zone and is hovering near the neutral line. This suggests that ENA is no longer oversold, but also not yet in overbought territory — a balanced condition that often precedes decisive moves.
Key Levels to Watch
Immediate resistance lies at $0.502, where price action is currently consolidating. A breakout above this level could open the door toward the next resistance zones at $0.6312 and $0.6353, areas that previously acted as distribution zones for sellers.
On the downside, the first notable support sits at $0.4717, followed by stronger cushions at $0.4424 and $0.4345.
Order Book Dynamics
The ENA order book provides crucial insight into where liquidity clusters are concentrated.
On the bid side, a large wall of 891,730 units sits at $0.497, signaling heavy buyer interest that could stabilize the price near current levels. If this wall fails, the next significant buying support appears at $0.4588 with 643,226 units, a level that could see the ENA price drop around 8% if breached.
On the sell side, a notable ask wall at $0.53000 with 514,679 units represents the first real challenge for bulls. Clearing it could send ENA up nearly 6%, while taking out the larger ask wall at $0.56000 may accelerate momentum by roughly 12% toward higher resistance. The next major supply level is around $0.60000, a critical zone that, if broken, could unleash a 20% rally.
ENA Trading Outlook
The overall setup leans cautiously bullish, with growing signs of accumulation and improving technical momentum. For traders looking to enter long positions, a breakout and sustained close above the $0.502 resistance could confirm bullish continuation, targeting the $0.53–$0.56 range as short-term profit zones.
Conversely, failure to hold above $0.47 could invite a pullback toward the mid-$0.44 region, where buyers may look to reaccumulate.
Short traders might watch for rejection signals near $0.53 or $0.56 to consider potential retracement plays back toward $0.47 — though the momentum shift in indicators suggests bears will have to work harder to regain control.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
