- Whales were lost 13%after three months of transactions.
- ENA Price has a deal more than a down channel, and returning to the pattern can continue to fall.
Ethena (ENA) fell by about 7.60% despite the surge of 85% in the last 24 hours during the prestime time.
Altcoin can be set as an important movement in any direction, but whales’ activities showed direction dilemma.
Are the whales going too early?
Whales purchased 144.73 million ENA with an average price of $ 0.404. After leaving, they deposited the remaining 11.6 million ENA (Worth $ 442 Million) for $ 0.347.
This resulted in a 3 -month ENA transaction, resulting in a loss of $ 817K of about 13.1%. The total whale sold 1666 million ENA and $ 54.3 million.
Source: TradingView
Another whale deposited $ 11.1 million USDC into a hyperclicade, occupying a long position in the ENA and PEPE, which cost $ 400,000.
As the price range is strengthened, the buyer can come in and the market can prepare for a rally.
However, the surrender of ENA seemed to be led by sales pressure despite the remaining price than the down channel. This questions the timing. What if the whale moves too fast?
Is history repeated as the USDE supply surge?
The price of Altcoin was at $ 0.3531 in Press Time, slightly higher than the top boundary, and could soon rebound on a long -lasting down channel.
Due to the surge in early May, the price exceeded $ 0.40, but stepped back a little.
If the ENA maintains a higher value than the channel line, you can move to $ 0.50 to $ 0.8019 as a bigger goal. If the ENA drops to less than $ 0.35, it can be reversed and return to a low level of less than $ 0.28.
MACD analysis crosses the MACD line and signal line at 0.0151, while the histogram remains flat, indicating neutral momentum.
Source: Trade perspective
High market uncertainty can lead to major prices. The buyer gets control or stops support again.
The top boundary of the lower channel was an important support level, but the level remained intact until the price measures were found to be failed.
The price of more than $ 0.35 can be informed of the strength, but if you fall down, a new sale can be caused. At the time, it was unclear whether the location of the ENA would get traction or weaken.
Meanwhile, Ethena’s Stablecoin and USDE have a surge in $ 300 million over the past week as the funding rates have improved.
This reflects a similar event that has soared from $ 0.25 to $ 1.25 since October 2024.
Source: Coinmarketcap
The situation was similar, so many were convinced that another bold movement for ENA began.
If history is right to say to us, this will be the beginning of great development in Ethena Labs, so this can attract investors who want to benefit greatly.