【$ENJ Signal】Short squeeze rebound, secondary push targeting

$ENJ 4H level MACD histogram continues to expand, price has broken out of the upper Bollinger Band, RSI hits 77 entering overbought territory. 1H data is missing, but the volume spike on the 4H candle confirms short-term strength. Negative funding rate of -0.1684% indicates high short position costs, fueling a short squeeze.

Price retreated from 0.0643; the zone below the current price at 0.0456-0.0640 is an ideal area for a pullback to enter long positions. This area is a dense trading zone from the previous breakout and near the 4H EMA20 support.

⚡Entry: Gradually add longs within the 0.0456-0.0640 range, with an average entry around 0.055.

🛑Stop-loss: Set uniformly below 0.0360.

🚀Target 1: First target at 0.0647, near the previous high.

🚀Target 2: Second target at 0.0743, as a conservative extension of the trend.

🛡️Trade management: After reaching 0.0647, halve the position; move the remaining stop-loss up to the entry price. If the price fails to hold above 0.0640 and falls back, consider exiting early.

Order book depth shows balanced buy and sell orders, but in a negative funding rate environment, any small pullback could trigger short covering, pushing the price higher. Stable open interest indicates this is not purely spot-driven, as futures contract funds are involved. The current risk-reward ratio is acceptable; patience in entry points is key to avoid chasing at emotional highs.

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