Weekly Timeframe
According to the weekly timeframe, ENS USDT is currently trading within a downwards trend inside the support zone between $19.60 – $22.00. The price is finding support at this zone indicating there may be buyers emerging here. However, the overall market structure is still bearish as the price is trading below all major moving averages.
If the buying pressure increases, we could see a relief rally towards the resistance zone between $26.43 – $27.64. But for the trend to confirm an upwards reversal, the bulls will need to push the price above $27.64. On the other hand, if the selling pressure resumes, the next support lies at $11.81 – $9.82 support zone.
The Fibonacci Retracement levels also show that the price is currently retracing from the swing high at $49.80. The 0.382, 0.50, and 0.618 levels fall between $19.98 – $15.27 and will act as potential support/resistance zones going forward.
In terms of order flow, the bearish FVG zone between $37.82 – $28.90 shows sellers remained stacked up from the supply zone between $49.80 – $37.31. This increases the downside pressure for the weeks ahead.
Support and Resistance Levels
S / R Type | High | Low |
Support Zone 1 | 22.00 | 19.60 |
Support Zone 2 | 11.81 | 9.82 |
Support Zone 3 | 7.35 | 6.34 |
Resistance Zone 1 | 27.64 | 26.43 |
Resistance Zone 2 | 40.82 | 38.39 |
Fibonacci Retracement Levels
0.382 | 19.98 |
0.50 | 17.59 |
0.618 | 15.27 |
0.786 | 11.88 |
0.882 | 9.96 |
Supply Zone
Zone Number | High | Low |
Supply Zone 1 | 49.80 | 37.31 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 9.68 | 8.00 |
Fair Value Gaps / Imbalances (FVG)
Gap Number | High | Low |
Bearish FVG Zone 1 | 37.82 | 28.90 |
Daily Timeframe
Zooming into the daily chart, we can see ENS USDT price is hovering around the 0.382 Fibonacci retracement level of $21.43 after finding support at $19.55 (0.50 level). This means the short term downtrend could be coming to an end. Bulls will look to push the price above $21.43 to confirm an upside breakout.
The demand zone between $18.49 – $17.40 has acted as a strong support region on the daily chart. Additionally, the bullish FVG zone between $14.45 – $17.40 shows buyers were stacked up in this region, which makes it an interesting reversal zone.
On the bearish side, below $17.40, the next demand zone is located at $14.45 – $12.11. A breakdown below this level could see the bears regain control towards $11.81 weekly support.
Fibonacci Retracement Levels
0.382 | 21.43 |
0.50 | 19.55 |
0.618 | 17.65 |
0.786 | 14.96 |
0.882 | 13.45 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 18.49 | 17.40 |
Demand Zone 2 | 14.45 | 12.11 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG Zone 1 | 14.45 | 17.40 |
4 Hour Timeframe
The narrow resistance zone between $26.54 – $25.99 will act as immediate overhead resistance on the 4-hourly timeframe. bulls will need to push the price above $26.54 to gain the upper hand.
Below this, the support zone between $21.90 – $21.17 holds the key short term. As long as the price remains above $21.17, we can expect another bullish impulse towards $26.54 resistance. However, a breakdown below $21.17 would imply the selling pressure is returning.
Support and Resistance Levels
S / R Type | High | Low |
Resistance Zone 1 | 26.54 | 25.99 |
Support Zone 1 | 21.90 | 21.17 |
1 Hour Timeframe
Looking at the 1-hourly chart, ENS USDT finds itself trapped within a symmetrical triangle consolidation pattern with support at $22.68 and resistance at $23.62. A breakout from this triangle will provide insight into the near-term directional bias.
The Fibonacci retracement levels also show the price is currently testing the 0.618 (resistance) and 0.786 levels after retracing from the supply zone between $23.62 – $23.10. Below $22.68, the bears will be in control towards $21.17 4-hour support.
In terms of order flow, the presence of a bearish FVG zone between $23.30 – $22.68 increases the probability of a downside breakout from the triangle in the short term. However, a bullish breakout cannot be ruled out.
Fibonacci Retracement Levels
0.382 | 22.73 |
0.50 | 23.13 |
0.618 | 23.49 |
0.786 | 24.03 |
0.882 | 24.32 |
Supply Zone
Zone Number | High | Low |
Supply Zone 1 | 23.62 | 23.10 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG Zone 1 | 23.30 | 22.68 |