strong buy
Ethereum Classic Approaches Resistance with Uptrend Support at $0.3127
A long position is recommended on #ENAUSDT from $0.3127, with a stop loss set at $0.3113. The current 5-minute chart shows the price hitting a clear resistance level, confirmed by multiple touches. Stop-loss orders from traders who initiated short positions have accumulated behind this level. A short-term upward trend is pushing the price towards this resistance, supported by increased trading volume from buyers.
Anticipation is for price consolidation along this level. An increase in activity within the order book could lead to a decisive breakout in the near future.
Profit-taking targets are set at:
- 1st TP at $0.3171
- 2nd TP at $0.3180
- 3rd TP at $0.3190
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AI Analysis
The current technical setup indicates that #ENAUSDT is at a critical juncture. The presence of multiple touches on the resistance level signifies its strength, yet the support from increased buying vo...
AI Recommendation
Given the technical setup, it is advisable to proceed with the suggested long position at $0.3127, provided the entry is made with a disciplined stop loss at $0.3113. The multiple profit targets allow...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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