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Crypto Express

07/23 02:28

ENA liquidation heatmap

ENA liquidation heatmap
The 1-week liquidation heatmap revealed that there was a chance of a price retracement to the $0.45-$0.47 zone. This may be the closest magnetic zone of a considerable size.

It coincided with the resistance from February. A retest of the former supply zone may be coming, as demand would offer a good buying opportunity. Finally, investors should be aware of potential volatility around Bitcoin [BTC].

The Awesome Oscillator showed hefty bullish momentum too. The 1-day market structure was firmly bullish as well. At press time, the altcoin seemed no longer constrained by the $0.5 resistance.

Its repeated meandering between $0.5 and $0.25 since April highlighted a range formation and a consolidation phase. This has since given way to a bullish trend on the charts.ENA-Liquidation-Heatmap-768x453.png

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