Today, I am diving deep into the price action of $ENSO. While the charts show a massive +65% gain, the on-chain data suggests we need to be extremely cautious. Here is why you should watch your entries closely.
1. Extreme Holder Concentration (Red Flag 🚩)
On-chain metrics reveal a startling reality: over 97.79% of $ENSO is held by just the top 10 whales.
The Manipulation Risk: When such a huge percentage of supply is controlled by a few wallets, the market becomes highly susceptible to manipulation.
Low Activity: Aside from the top whales, very few wallets are active, suggesting this pump might be artificial.
2. Technical Breakdown: Rejection at Resistance
Looking at the 5-minute chart, the price is currently struggling at the 1.9691 level.
Resistance Zone: There is heavy selling pressure near the 2.0000 mark.
Potential Correction: The chart pattern indicates a possible reversal. If Enso fails to sustain its momentum, we could see a quick drop towards the next structural supports.
3. Key Levels to Watch:
Support 1: 1.8299 – If this breaks, the bearish trend will intensify.
Support 2: 1.7153 – This is the final major support level before a total retracement.
Final Verdict:
The massive whale concentration (97.79%) means that if the top holders decide to sell even a small fraction, the price will crash instantly. If you are in profit, consider trailing your Stop Loss or taking partial profits. Do not FOMO into a chart that is controlled by such a small group of individuals.
Stay safe and trade with a plan!
#ENSO #WhaleAlert #CryptoAnalysis #RiskManagement #BinanceSquare $BTC
