ENA is currently trading inside a rising wedge on the 1H chart after a sharp sell-off and V-shaped recovery from the 0.1215 low. Price has stabilized and is now printing higher lows, showing short-term buyer presence — but the structure itself demands caution.A rising wedge after a strong drop usually signals indeccision, not strength. Bulls are trying to push higher, but every push is getting absorbed near the upper boundary of the wedge. This tells us momentum is improving, but not decisive yet.
If buyers manage a clean breakout and hold above the wedge, we could see a continuation toward the 0.145 → 0.150 zone as a relief move.
However, if price loses the lower wedge support, this structure flips bearish fast, opening the door for a retest of 0.132, and potentially 0.125 again.
This is a classic wait-for-confirmation setup. Let price choose direction.
Support: 0.135 → 0.132
Resistance: 0.145 → 0.150
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.