Alikze »» ENJ | Descending channel - 4H
2024-11-09
Category: gaming

🔍 Technical analysis:  Wave 3 or C bullish scenario - 4H 

- In the 4-hour time frame, according to the  previous analysis , after the support in the range of 0.1465, it faced demand, which was able to grow to the middle of the channel.

- It faced selling pressure in the middle of the channel, which led to a zigzag correction to the 0.122 range.

- It is currently moving in a descending channel, which is at the ceiling of the channel and there is also a supply zone.

- Therefore, in case of selling pressure, it can face support in the specified limits or green box and lead to a price growth up to the specified supply area.

💎 In addition, it should be noted that if the green box is broken, the bullish scenario is validated and can have another corrective leg. 
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