ENS: dip to buy or trap? key levels to watch in the next days

ENS. Dip to buy or trap? Identity tokens have been in the spotlight again, and according to the market, the latest buzz around Ethereum ecosystem upgrades briefly pumped ENS, but the hype faded fast and price stalled right under local resistance.

On the 4H chart we’re stuck below a fat supply zone around 6.8–7 that already rejected the last spike. RSI is under 50 after a clear cool‑off from overbought, and VPVR shows the main volume node above current price, so bounces look more like exits than fresh longs. I’m leaning to the downside, expecting a sweep of the low‑volume pocket toward 6.1–5.8 in the next moves.

My play here: if we retest 6.8–7 with weak volume and wicky candles, I like shorts with targets at 6.1 first, then 5.8, and a hard stop above 7.2. If bulls break and hold 7.2, that kills the short idea and opens the door to a squeeze toward the 8.5–9 zone. I might be wrong, but for now I’d rather sell the rip than marry the narrative ✅