ENA: Two Demand Zones to Watch

Wait 5 sec.

ENA: Two Demand Zones to WatchENAUSDT SPOTBYBIT:ENAUSDTDonatelioENA is trading within a well-defined descending channel on the 4H chart. I’m not trading shorts here, but I’m watching two demand zones for potential long opportunities. The first is the 4H demand zone around $0.161–0.172. Price has already approached it once, falling slightly short before bouncing. If we get another test, I would expect a sweep of the local low formed during that first approach. I’ll be watching Bitcoin’s price action as well. Depending on the reaction, I may consider a small long here, though I’m not fully convinced by this setup yet. The more interesting area for me is the daily demand zone around $0.135–0.147. This is where I would be more interested in considering a medium-term long. From the price shown on the chart, reaching this zone would mean roughly another 23–29% decline, depending on how deep the pullback goes. The daily chart also provides useful context: a prolonged base below $0.13, followed by a strong breakout and expansion higher. For that broader bullish structure to remain intact, I would ideally want the $0.135 area to hold as support. A sustained move back below it would weaken that scenario. For now, I’m treating this as a pullback within a descending channel and waiting to see how price responds at demand.