The post ENS Technical Analysis Feb 4 appeared on BitcoinEthereumNews.com.

ENS is trading in a critical squeeze zone at $6.78; while RSI reaching oversold levels like 24.94 offers recovery potential, the ongoing downtrend and Bitcoin’s weakness make both scenarios possible. Current Market Situation ENS is trading at $6.78 with a 2.45% drop in the last 24 hours and is squeezed in the $6.44-$7.05 range. Volume remains at a moderate $19.95M level, while the overall trend continues downward. RSI at 24.94 signals the oversold region, increasing the likelihood of a short-term reaction buy. However, MACD shows a negative histogram and the price remains below EMA20 ($8.49), maintaining short-term bearish pressure. The Supertrend indicator gives a bearish signal and $8.62 resistance forms a strong barrier. In multi-timeframe (MTF) analysis, 10 strong levels were identified across 1D, 3D, and 1W charts: 1D has 1 support/2 resistance, 3D has 0 support/2 resistance, 1W has 3 support/3 resistance balance. Critical support at $6.40 (score 82/100), resistances at $6.96 (62/100) and $7.5776 (62/100). This structure provides traders with clear invalidation points for both breakout and breakdown scenarios. Scenario 1: Bullish Scenario How Does This Scenario Unfold? For the bullish scenario, $6.96 resistance must first be clearly broken with a close above it, which could reverse short-term momentum. If $7.5776 is then tested and broken, momentum gains speed toward EMA20 ($8.49). RSI exiting oversold (above 30) and MACD histogram approaching zero would serve as confirmation signals. Notable volume increase and Bitcoin stabilization would strengthen this scenario. The trend change is confirmed when Supertrend turns bullish. Invalidation level is $6.40 support; a break below it completely invalidates the bullish possibility. Traders can monitor current charts on the ENS Spot Analysis page. Target Levels First target is $8.62 Supertrend resistance, followed by $10.3461 (score 30) as the main target. This level aligns with Fibonacci extension levels on the 1W…

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Filed under: News - @ February 4, 2026 4:22 am