$ENA/USDT

Current Price: 0.615
Target Price:

- TP1: 0.85 (Fibonacci 38.2% extension level)
- TP2: 1.10 (neckline breakout level/Fibonacci 61.8% extension level)
- TP3: 1.45 (Fibonacci 261.8% extension level)
Stop Loss Price: Below 0.34

Reason for Purchase:

1. Shape Confirmation:
- The weekly level has formed a "triple bottom" breakout pattern (neckline at 0.85), the measured increase = depth of the bottom × 1.618 = 0.25 → target price 3 = 0.85 + 0.25 = 1.10 (actual rounded to the integer 1.45)
- The daily chart has completed a "head and shoulders bottom" breakout (lasting 42 trading days), with the neckline at 0.85
2. Trend Structure:
- Monthly level breaks through the 2018-2024 downtrend line (0.34→0.60 connection), price stands above MA(200) 0.58
- Short-term trend accelerates, RSI( breaks through 70 and then retraces to 65 (healthy adjustment signal)
3. Effectiveness of Breakthrough:
- The trading volume surged 720% when breaking through 0.60 (reaching 12 times the daily average), confirming the validity of the breakout.
- Support turned resistance verification: The 0.60 area successfully converted into strong support.
4. Indicator Verification:
- The OBV indicator has reached a historical high, indicating continuous capital inflow.
- Funding Rate +0.225% (positive for 30 consecutive days), futures open interest exceeds 580 million USD
- On-chain data: Active addresses increased by 128%, development activity index improved by 92%

Key technical features:

- Morphological parameters:
- Triple bottom formation period: 55 trading days (daily)
- Bottom Depth: 0.25 (0.34→0.59)
- Neckline: 0.85 (connecting the high points of the triple bottom)
- Fibonacci Extension:
- 0.85 = (0.34 → 0.60 increase) × 0.382 + 0.60
- 1.10=（0.34→0.60 increase）×1.618+0.60
- 1.45 = (0.34 → 0.60 increase) × 2.618 + 0.60
- Wave structure:
- Third wave main upward wave: 0.34→1.45 (target price 3)
- Currently in the 3rd wave of the 3rd subwave (0.60→1.45)

Market Outlook:

- Macroeconomic level: Expectations of an interest rate cut by the Federal Reserve are rising, leading to an increase in risk appetite in the crypto market.
- Ecological Development: ENA Network announces cross-chain cooperation with 5 Layer 1 public chains, with a locked value growth of 185% month-on-month.
- Technical aspect: Breaking above 0.85 opens up an upward space of 1.45+, or triggers the liquidation of 8.0x leverage contracts.

Risk Warning:

- The stop-loss level is set below the historical low of 0.34 in 2023, and extreme market conditions should be monitored.
- The short-term increase has reached 80%, and there may be profit-taking pressure.

This content is for reference only and should not be considered as investment advice.