So, folks, gather ’round! In the grand circus that is the crypto market, we’ve seen some spectacular stumbles! Bitcoin [BTC], our beloved digital diva, just couldn’t hold on to that shiny $87k support-oh no! Instead, it took a nosedive, losing 6.95% faster than you can say “HODL!” Meanwhile, the altcoin market decided to join the party, dropping 7.98% like a bad habit.
But wait! What’s this? Enter Enso [ENSO], the L1 token with a market cap of $32.2 million, strutting its stuff and flipping the script with a glorious 12.57% rise since January 29th. It dipped to $1.15, but then it said, “Not today, market!” and bounced back with a jaw-dropping 51.74% gain in just one day. Talk about a comeback story!
In the last 24 hours, this little engine that could surged 30.8%, and CoinMarketCap reports a trading volume explosion of 530%! If that doesn’t get your juices flowing, I don’t know what will!
Why the Enso pullback shows bullish health
Looking at our fancy 1-day chart, the RSI has cooled off but remains as bullish as a stampeding bull at a rodeo after ENSO dipped below the $1.298 local support level. Even the 61.8% Fibonacci retracement level at $1.267 was breached, but not for long-like a kid who sneaks cookies before dinner!
The sellers just couldn’t muster enough enthusiasm to push prices down below $1. It’s like they showed up to a party but forgot to bring the snacks. And guess what? The OBV is starting to climb higher, which is always a good sign!
Are there bearish undertones
Now, let’s talk about bearishness-spoiler alert: there isn’t much! The Fixed Range Volume Profile from last Sunday pointed to a Point of Control (red) at $1.45, marking it as the local support-the golden ticket in this wild ride.
Above it, we have the Value Area High at $1.62, serving as a local resistance. And the $1.60-$1.70 zone? Well, that’s just been acting like a bouncer at a nightclub lately, keeping things in check!
Why traders should remain bullish
If ENSO decides to play the slippery slope and drops below $1.45, it’s highly likely we’ll see a retest at $1.3 as support. If it dips below $1.30, then the bears might just throw a little party of their own. But fear not! A retest of these support levels could be the golden opportunity to scoop up some deals!
And if all goes according to plan, the next price targets are looking good: $1.60-$1.70, $1.95-$2.0, and $2.45! It’s like treasure hunting, but without the pirates!
Final Thoughts
- Enso continues to flex its muscles while the rest of the crypto world is having a meltdown!
- A drop toward $1.45 and $1.30? More like an invitation for a bullish price reaction!
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2026-02-01 00:22