Good vibes to everyone 📊
ENA (Ethena Labs) is currently trading in pivotal and enticing zones for a buy after the recent correction and stabilization around historical support levels close to $0.085 - $0.090. With the recent positive news about Coinbase Ventures coming on board as a partner and direct investor from the open market, it looks like the coin is gearing up for a solid launch pad.
Here’s a well-thought-out Spot/Long buying strategy for risk management:
🎯 Trading Plan:
🛒 Entry Zones:
First Line (50%): at current prices in the range of $0.085 - $0.088.
Second Line (50%): additional buy to average down (boost) if it touches levels of $0.080.
Target average entry: around $0.083.
🚀 Investment Goals and Take Profit:
First Target: $0.115 (a nearby resistance area to secure profits).
Second Target: $0.135 (main target for quick speculation).
Third Target: $0.155 (medium-term).
🛑 Stop Loss:
Close a daily candlestick below the level of $0.076. (Breaking this line completely nullifies the bullish outlook).
⚠️ Risk Management Tip:
The market is volatile, so it's advisable to trade in the Spot market to avoid liquidation risks, and don’t go all in with your entire capital on a single trade. Always follow a staggered entry strategy.
Good luck to everyone! 💸
#ENA #ENAUSDT #CryptoTrading #TechnicalAnalysis
#Ethena This is not investment advice.