- In the past 24 hours, 32 million Ethena($ENA) has been bought by large holders to decrease the supply and increase price momentum.
- In spite of the setback to 0.7087, the $ENA holds above the important moving averages, indicating a sound uptrend.
- The important lower support zone of 0.68-0.70 is seriously needed, and the reason is that the volumes at that point are healthy, signaling a possible further rally.
Ethena ($ENA) has seen strong accumulation as smart money piles in and retail waits for confirmation. In the last 24 hours, large holders acquired 32 million $ENA, reinforcing demand strength. The buying spree reflects growing market confidence and adds to the asset’s bullish momentum.
Whales have steadily increased their exposure to Ethena, as wallet holdings between 1 million and 10 million $ENA surged. This activity reduces circulating supply and often drives prices higher when demand remains firm. The accumulation trend aligns with recent gains and confirms growing market traction.
Whale Accumulation Strengthens Market Outlook
The price chart shows $ENA maintaining higher highs alongside rising whale activity, suggesting short-term strength. Such alignment between price growth and accumulation highlights strong participation from influential market players. Therefore, Ethena continues to build momentum as smart money piles in and retail waits.
Analysts track whale movements as a signal of broader sentiment, and accumulation often suggests a favorable outlook. However, large selling events could pressure prices if trends reverse. Still, current conditions signal strong institutional and large-wallet participation in Ethena.
Price Action Confirms Bullish Breakout
Ethena ($ENA) moved from a prolonged consolidation phase around $0.22 to $0.30 into a strong breakout. The rally reached $0.8555, supported by surging volumes in July and August. marking the strongest advance since listing. This sharp move demonstrated robust buying power across the market.
Currently, $ENA trades at $0.7087, reflecting a corrective phase after the peak. The 7-day average remains above the 25-day average, signaling relative strength. Even with short-term losses, the structure continues to favor growth.
The long-term 99-day average stands at $0.4349, confirming broader trend strength. As long as $ENA holds above this level, sentiment remains positive. Consequently, smart money piles in as retail waits for further signals.
Momentum Points to Further Expansion
Trading volumes remain healthy, with strong green candles showing active participation during the recent surge. This activity signals continued strength despite the short-term correction phase. Moreover, volumes confirm that buying support is still intact.
Market watchers highlight the $0.68 to $0.70 range as an immediate support zone. If it holds, the next surge could follow. Failure, however, may trigger deeper retracement.
Overall, Ethena ($ENA) has moved into a bullish phase supported by whale activity and rising volumes. The momentum remains intact as smart money piles in and retail waits for the next move.
