- ENS price nears the $34 support zone, showing signs of a possible upward trend toward $69.
- Buyers aim to target $52.99 and $61.45 as key milestones before reaching the $69.08 breakout point.
- Traders are advised to set stop-loss levels below $29.50 to limit risks while monitoring a bullish rebound.
The ENS/USDT price is approaching a key Fibonacci Buy Zone between $37.61 and $34.03, presenting an ideal opportunity for buyers. Analyst Rose Prer highlights that if the price rebounds from this area, it could target higher levels. Immediate resistance sits at $52.99, while the next key barriers are at $61.45 and $69.08. Traders planning to enter should consider placing a stop-loss below $29.50 to limit potential risks.
Source: Rose Premium Signals
ENS Price Eyes Fibonacci Buy Zone
The current chart shows ENS retracing toward the 0.618 Fibonacci level at $37.61 and the 0.786 level at $34.03. These two price zones often act as strong support areas where buyers usually step in to reverse momentum. A bounce from this range could create a bullish setup as the risk-to-reward ratio becomes more favorable.
Moreover, traders tracking these levels are waiting to see if buyers will gain control. Once prices hold above this zone, the trend could shift upward. A breakout from this area would strengthen bullish momentum and allow ENS to push toward its next resistance targets.
Key Resistance Levels to Watch
If ENS rebounds, it will face immediate resistance at $52.99. Breaking above this level is critical for signaling further upside movement. Once the price clears this point, it could gain strength to test $61.45.
The final target sits at $69.08, where traders could expect some profit-taking. These resistance levels give a clear roadmap for traders watching ENS price action closely.
Managing Risks and Entry Points
For traders planning to enter the market, managing risks remains a priority. Analyst Rose Prer recommends a stop-loss below $29.50 to protect positions from downside pressure. This strategy allows traders to balance risk and reward while maintaining clear entry and exit points.
The current price action suggests that ENS is nearing a turning point. If prices hold near $34.03, a bullish breakout could follow, pushing the price closer to the $69.08 upper target. Traders will be watching this area to see how the next move develops.
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