After reaching a local high around 0.0961, ENA entered a corrective phase. On the 1H timeframe, the price structure is currently showing a sequence of lower highs and lower lows, indicating that sellers have gained short-term control.

Price is currently trading around the 0.0872-0.0878 area, which is an important short-term support zone and could act as the last major barrier before further downside.

Bearish Scenario

My primary scenario is for a short-term pullback towards the 0.0900-0.0915 resistance area. If price fails to reclaim this zone and selling pressure returns, another bearish leg could follow.

A confirmed break and close below 0.0872 would increase the probability of further downside, with the 0.0790-0.0780 area acting as the next potential target zone — approximately 9% below the current price.

Invalidation

If ENA manages to reclaim and hold above the 0.0915-0.0920 resistance zone, the current bearish setup would weaken significantly and the probability of a bullish recovery would increase.

Bias: Bearish
Key Support: 0.0872
Resistance: 0.0900–0.0920
Target Zone: 0.0790–0.0780