Technical analysis by perotrade about Symbol ENA: Buy recommendation (6/4/2024)

**Chart Description:**This analysis of ENA/USDT on a daily chart illustrates a potential bullish continuation pattern. The chart highlights a recent uptrend with a predicted future price movement, indicated by the red projection line. The key support and resistance levels are marked to help traders identify significant price points.**Key Features:**- **Support Levels:** The chart identifies critical support levels at $0.94 and $1.124, which have provided strong buying interest in the past.- **Resistance Levels:** Significant resistance levels are marked at $1.217 and $1.521, where selling pressure may increase.- **Price Projection:** The red projection line suggests a potential bullish continuation, with price movements expected to fluctuate upwards, potentially reaching up to $1.521.**Technical Outlook:**The current setup indicates a bullish sentiment, with the recent price action breaking above previous resistance levels. If the price continues to hold above the support at $1.124, we could see a move towards the $1.217 and $1.521 resistance levels. Traders should watch for a breakout above $1.217 for confirmation of the bullish trend continuation.**Conclusion:**Traders are advised to monitor the support and resistance levels closely and look for bullish signals above $1.124. A sustained move above $1.217 could open up further upside potential towards $1.521.