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$ENSO 📉 Why can the price drop to touch the EMA30 (Golden Line)?
• H4 is currently in a correction phase after a strong rally → pullback is normal
• The current price has lost EMA5 & EMA10, and is below the weak rebound zone
• EMA30 H4 = dynamic support of the trend → usually tested at least once
• Volume gradually decreases, MACD narrows → rebound strength is insufficient
👉 With this chart, testing EMA30 is a natural scenario, nothing unusual.
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🎯 Price zone
• EMA30 H4 is currently around: 1.15 – 1.20
• This is a decisive zone:
• ✅ Touch EMA30 + strong rebound → could create a medium-term bottom
• ❌ Break EMA30, H4 candle closes below → downtrend extends
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⚠️ Worse scenario (please note)
If EMA30 cannot hold:
• Next target: 0.95 – 1.00
• Even further down is 0.80 – 0.85 (which only happens when the overall market is bad)
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Quick conclusion for you
• ✅ May drop to touch the golden line
• ⚠️ Not yet a safe buying zone
• 🟢 Best zone to observe price action: EMA30 H4
• ❌ Do not buy before seeing a bullish confirmation candle