- ENA increased 6.67% in sidewalks last day.
- Ethena has seen a strong change in emotions and has set potential escape.
Last week, Ethena (ENA) showed a strong rise in the price chart.
During this period, Altcoin surged from the last day to $ 0.35 from the lowest at $ 0.25. At the time of writing, Ethena traded at $ 0.3342, increasing 6.67% every day.
Altcoin increased 8.04%every week. But before this price pump, ENA experienced a 3.54% decrease in the monthly chart.
Source: X
Recent price pumps have proposed potential rise in Ethena’s price charts. According to ALI Martinez, a popular encryption analyst, ENA has set up a breakdown of reverse head and shoulder patterns.
You can see that the pattern of this pattern moves to $ 0.39. Historically, the ENA gained strong profits after this pattern.
For example, in December 2024, the brake out saw Altcoin moving from $ 0.9 to $ 1.32.
Is Ethena set for more profit?
According to AMBCRYPTO’s analysis, Ethena is experiencing a strong upward momentum as the emotions of the strongest are built.
Looking at Ethena’s Spot Netflow suggests that the buyer has returned to the market.
Therefore, Altcoin Netflow turned into voice and recorded -693.2K. When Netflow turns into negative numbers, the buyer is activated and more leaked from the exchange.
Source: COINGLASS
AMBCRYPTO mentioned the existence of a powerful buyer, and the purchase amount of futures has soared to 173 million tokens last day.
This increase in purchase indicates that investors actively accumulate Altcoin and expect additional prices.
Source: Mesari
Increasing purchase volume indicates that investors are actively opening new positions. As a result, Ethena’s aggregated interest increased from $ 262 million to $ 272 million.
The combination of open interest rising and higher purchases reflects strong market demand when strong feelings are controlled.
Source: Coinalyze
Investors who open a new status are mostly longer, as shown at a positive rate of financing.
Positive aggregation funding reflects the dominance of long positions in the market. This suggests that most investors expect an additional price increase.
Source: Coinalyze
At the time of writing, Ethena benefited with strong feelings and became an upward momentum last week.
If the market conditions are maintained in favor of the ENA, the ENA is ready to get out of the back head and shoulder patterns. These brake outs can be seen that Altcoin is getting $ 0.37 and set a step for further $ 0.39.
However, if the upward trend is shaken, the ENA can experience the fullback for $ 0.30.