The Macro Picture 🗺️
Three sessions after the June 19 support-flip Idea, ENA hasn't reclaimed $0.10 yet — but it hasn't broken the thesis either. Price coiled back to $0.085 on the deeper pullback, held the prior compression's upper boundary as new support, and rotated back to $0.095 for a second attempt at the Reclaim Ceiling. The structure is now a tight higher-low base between $0.085 and $0.100, sitting exactly where bulls need it to be: above the prior squeeze, below the next ceiling, building energy for the next attempt. RSI has climbed from 40 to ~50 — slow but steady.
The Setup ⚙️
The Support Flip: The $0.0900 boundary that capped the June 14–17 squeeze defended cleanly on the deeper pullback to $0.085, validating the role-reversal from ceiling to structural support and confirming the breakout was not a one-off relief spike.
The Reaction: The new local low at $0.085 sits a meaningful step above the prior $0.082 compression low — a higher-low signature that reads as structural accumulation rather than failure; bulls are losing nothing while bears are losing the energy of the prior breakdown.
The Trigger: A clean 1D close above $0.1000 — which has rejected price twice since June 18 — would convert this base into a continuation impulse and clear the path toward the $0.1150 Mid-June Rejection as the next overhead test.
The Roadmap: Primary target sits at $0.1000 — a clean reclaim of the Reclaim Ceiling would validate the higher-low base and complete the second attempt at the post-squeeze continuation, with $0.1150 as the next structural stop once the immediate ceiling cracks. Invalidation: a sustained 1D close below $0.0850 would invalidate this higher-low base and rotate price toward the $0.0800 Broken Macro Floor for a deeper retest.
Three sessions after the June 19 support-flip Idea, ENA hasn't reclaimed $0.10 yet — but it hasn't broken the thesis either. Price coiled back to $0.085 on the deeper pullback, held the prior compression's upper boundary as new support, and rotated back to $0.095 for a second attempt at the Reclaim Ceiling. The structure is now a tight higher-low base between $0.085 and $0.100, sitting exactly where bulls need it to be: above the prior squeeze, below the next ceiling, building energy for the next attempt. RSI has climbed from 40 to ~50 — slow but steady.
The Setup ⚙️
The Support Flip: The $0.0900 boundary that capped the June 14–17 squeeze defended cleanly on the deeper pullback to $0.085, validating the role-reversal from ceiling to structural support and confirming the breakout was not a one-off relief spike.
The Reaction: The new local low at $0.085 sits a meaningful step above the prior $0.082 compression low — a higher-low signature that reads as structural accumulation rather than failure; bulls are losing nothing while bears are losing the energy of the prior breakdown.
The Trigger: A clean 1D close above $0.1000 — which has rejected price twice since June 18 — would convert this base into a continuation impulse and clear the path toward the $0.1150 Mid-June Rejection as the next overhead test.
The Roadmap: Primary target sits at $0.1000 — a clean reclaim of the Reclaim Ceiling would validate the higher-low base and complete the second attempt at the post-squeeze continuation, with $0.1150 as the next structural stop once the immediate ceiling cracks. Invalidation: a sustained 1D close below $0.0850 would invalidate this higher-low base and rotate price toward the $0.0800 Broken Macro Floor for a deeper retest.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Stop guessing your settings — backtest & optimize with QuantPilot
🎁 Free to start
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.