ABC Pattern Unfolding: ENSUSDT Elliott Wave Analysis

💎 #ENSUSDT could be on the verge of completing an ABC pattern, according to the Elliott wave theory. After a strong bounce off the 88.6% Fibonacci support, we witnessed a breakout of the downtrend trendline, fueled by heavy buying pressure. 🚀

💎 Furthermore, the price is contained within a tight ascending channel, suggesting a potential rapid rise towards the Fibonacci-based resistance area. 💥

💎 However, we can't rule out the possibility of a price spike downwards, testing the downtrend trendline and the double Fibonacci support around the $10 psychological level. If this occurs, buyers should seize the opportunity. 🎯

💎 It's crucial to note that a break below the C-wave would invalidate the short-term bullish outlook, potentially paving the way for a continuation of the downtrend. 🔴