Altcoins News
By Evie Vavasseur
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Whales Increase Holdings as ENA Utility Grows. Whale wallets — addresses that hold large amounts of a token — are often seen as “smart money” in…
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Technical Analysis Points to Continued Momentum. From a technical perspective, ENA is flashing bullish signals.
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ENA Price Action and Key Levels. Currently, ENA is trading within an ascending channel, which is generally considered a bullish…
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OBV Divergence Suggests Smart Buying. Another important technical signal is coming from the On-Balance Volume (OBV) indicator, which…
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Conclusion. All signs currently point to strong short-term momentum for Ethena’s ENA token.
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Ethena’s native token ENA is gaining attention not just for its price action, but for the rising interest from large holders, also known as whales.
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In the last three months alone, ENA has surged by more than 70%, including a 5.5% gain in just the last 24 hours.
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Over the past seven days, ENA has risen by 6.6%. While the top 100 addresses increased their holdings slightly (0.
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In contrast, some smaller public addresses reduced their holdings. But since these accounts hold much smaller amounts compared to whales, their selling has had little impact on…
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Exchange reserves for ENA — meaning the amount of ENA held on trading platforms — have ticked up slightly. This usually happens during profit-taking phases.
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The increasing utility of ENA may be one of the main drivers of whale accumulation. Its connection to USDtb, and the use of USDtb to back USDe — Ethena’s delta-neutral stablecoin…
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From a technical perspective, ENA is flashing bullish signals. A key indicator called the Exponential Moving Average (EMA) has shown a positive trend:
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The 50-day EMA has crossed above the 100-day EMA, a signal known as a “bullish crossover.”
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The 100-day EMA is also approaching the 200-day EMA, setting up for an even stronger bullish crossover that could spark further upward movement.
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These crossovers are often seen by traders as reliable indicators that a token is gaining momentum and may soon enter a longer rally.
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