Dr Niki expects the ENA price to fall below $0.2417 if a daily close confirms this breakdown. According to his analysis, the next target for sellers would be $0.2383, making this level crucial for short-term traders.
What Triggers the ENA Price to Fall?
According to Dr Niki, sellers will only gain a real advantage if ENA closes below $0.2417. This price is seen as a key confirmation point for a bearish move. If the close happens below this mark, it suggests that momentum is shifting in favor of the bears, opening the path to lower levels like $0.2383. However, if ENA stays above $0.2417, or quickly bounces back after dipping below, the bearish setup could be invalidated.
Dr Niki also points out that ENA is currently trading below the range of $0.24605 to $0.27779. This means that the market is showing acceptance beneath an important support zone, which often leads to further downward movement if confirmed by strong trading volume.
Key Targets and Invalidation Levels for Traders
The main objective for sellers, as outlined by Dr Niki, is the $0.2383 level. This is the first significant support below $0.2417 where buyers might try to defend the price. The invalidation point for the bearish scenario is $0.2522 — if ENA climbs above this price, the short trade idea loses validity and traders should reconsider.
For a short position to be reliable, Dr Niki emphasizes the need for improved trading volume and a clean break below the range, without a rapid return above $0.24169. If ENA closes and holds in the $0.23012 to $0.24169 area, sellers will likely set their sights on $0.23827 as the next stop.
Trading Cautions and Conditions for Confirmation
Dr Niki warns that if the move below $0.2417 is not confirmed or the price quickly snaps back above this level, it’s better to stay out of the market for now. Patience is key, as entering prematurely can lead to losses if the breakdown fails.
He also notes that for a sustainable short trade, the price should not re-enter the previous range after breaking down. This behavior, along with increased volume, would confirm that the sellers are in control and that the ENA price is likely to fall further.
This article reflects the channel author’s opinion and is not investment advice.
Source — Dr Niki: https://www.youtube.com/watch?v=0yRJUm913wg
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