ENSO recently experienced a rapid pullback after reaching a high point. The main pressure causing this decline came from the 6th 15-minute candlestick, which showed a medium-strength bearish candle with a drop of -1.92% and a volatility of up to 2.35%. Most importantly, the trading volume significantly increased to 411,000. This abnormal volume often indicates that there is a concentration of profit-taking or selling pressure around the 0.72-0.73 range.
The following few candlesticks have small bodies, and both bulls and bears are in a brief stalemate around the 0.70-0.71 level. Currently, the price stands at 0.7077, which is a very critical area for a battle.
From a technical perspective, the next movement mainly depends on two directions: if the price can hold above 0.71 and accompanied by a volume increase, there is a chance to rebound towards the resistance zone of 0.72-0.73. However, if it breaks below 0.70 and the next candlestick shows an expanded body, it may further decline to find new support.
In terms of trading strategy, aggressive traders might consider a light position around 0.705, with a stop-loss below 0.695, targeting 0.725. A more conservative approach is to wait for a clear breakout above 0.715 or a volume-driven breakdown below 0.70 before following the trend.
Overall, the market volatility remains within a normal range, but the volume decline of a single candlestick warrants caution. The key factors to watch are the overall BTC market trend and whether ENSO can establish effective support at the psychological level of 0.70.
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CrossChainBreather
· 12-27 05:19
Hey, here comes the pressure zone again. Is the 410,000 trading volume really going to crash?
The 0.70 level must be held, or else it will be embarrassing to drop to a new low directly.
Wait for the volume and price to coordinate before moving again, otherwise it's easy to get fooled.
A sneeze from BTC, and all the altcoins catch a cold. ENSO's next move depends on the boss's mood.
Trying with a small position is okay, just worried about stop-loss being wiped out.
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MaticHoleFiller
· 12-27 01:53
It's the same old trick again. Whether 0.70 breaks or not is the key; everything else is pointless.
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AirdropAutomaton
· 12-27 01:53
It's the same old story... 0.70 and 0.71 again. Sounds nice, but those who miss out will lose money.
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DegenApeSurfer
· 12-27 01:46
Once again, this kind of volume dump, so familiar... Can 0.70 hold? It's really a life-and-death line.
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OldLeekNewSickle
· 12-27 01:42
Hmm... it's that 0.70 psychological level again. Every time, they say it's a key support, and what happens?
It breaks.
Honestly, with a trading volume of 411,000 sitting there, it's obviously a sell-off, not a gentle profit-taking. Living day by day based on BTC's mood feels pretty exhausting.
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SatoshiNotNakamoto
· 12-27 01:39
A volume-driven decline of 411,000, feels like a whale is collecting chips.
ENSO recently experienced a rapid pullback after reaching a high point. The main pressure causing this decline came from the 6th 15-minute candlestick, which showed a medium-strength bearish candle with a drop of -1.92% and a volatility of up to 2.35%. Most importantly, the trading volume significantly increased to 411,000. This abnormal volume often indicates that there is a concentration of profit-taking or selling pressure around the 0.72-0.73 range.
The following few candlesticks have small bodies, and both bulls and bears are in a brief stalemate around the 0.70-0.71 level. Currently, the price stands at 0.7077, which is a very critical area for a battle.
From a technical perspective, the next movement mainly depends on two directions: if the price can hold above 0.71 and accompanied by a volume increase, there is a chance to rebound towards the resistance zone of 0.72-0.73. However, if it breaks below 0.70 and the next candlestick shows an expanded body, it may further decline to find new support.
In terms of trading strategy, aggressive traders might consider a light position around 0.705, with a stop-loss below 0.695, targeting 0.725. A more conservative approach is to wait for a clear breakout above 0.715 or a volume-driven breakdown below 0.70 before following the trend.
Overall, the market volatility remains within a normal range, but the volume decline of a single candlestick warrants caution. The key factors to watch are the overall BTC market trend and whether ENSO can establish effective support at the psychological level of 0.70.