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Is $ENJ about to trap a lot of people here or is this just a healthy pullback?
We just saw a massive vertical run up to $0.104, but that daily candle is looking pretty ugly now. Dropping over 18% in a single day after such a parabolic move usually means the excitement outpaced the actual buyers.
The price is sitting at $0.077 right now. If you look at the history, we spent a long time grinding at the bottom, so this surge was bound to cool off. The order book is still showing more sellers than buyers, which makes me think we might need to test some lower support levels before finding a floor.
I’m watching the $0.070 area closely. If it holds there, we might see another leg up, but jumping in right now feels like catching a falling knife.
Patience is key on these high volatility days. Let the dust settle first.
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