Altcoins News
By Maheen Hernandez
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Whale activity surrounding Ethena (ENA) has raised eyebrows this week, as several major holders chose to exit their positions at a loss—even as the altcoin shows signs it may be…
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As of May 20, ENA’s price stood at around $0.353, having dropped about 7.6% over the past 24 hours.
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One notable whale, for instance, had accumulated approximately 15.47 million ENA tokens over the past three months at an average entry price of $0.404.
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A second whale made a similarly aggressive move by depositing $10.1 million USDC into the Hyperliquid platform to open long positions on ENA, PEPE, and NEAR.
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Interestingly, this wave of whale capitulation comes at a time when certain market indicators suggest a potential turnaround.
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The chart pattern alone offers some hope to bullish traders. A decisive move above the $0.35 resistance level could confirm a breakout, potentially sending the token toward a…
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Adding to the market’s uncertainty is the current state of the MACD (Moving Average Convergence Divergence) indicator, which shows a flat histogram and intersecting MACD and…
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Meanwhile, activity surrounding Ethena’s native stablecoin, USDe, has added a new layer to the narrative.
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Whether that potential will materialize remains to be seen. For now, the actions of major ENA holders have created mixed signals.
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In the ever-volatile world of crypto, timing is everything. As Ethena hovers near a key support level with surging volume and a possible trend reversal in play, the coming days…
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