Ethena experiences a significant 13% surge - Maintaining this level may propel ENA to reach $0.68
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Ethena (ENA), a cryptocurrency project, has shown a mixed but cautiously bullish short-term outlook based on recent price action, trading volume, sentiment, and technical indicators.
Recent Price Movement
ENA has surged strongly by about 13% recently, reaching around $0.62 after a major token unlock event of 171.85 million tokens on August 6, 2025. Despite the increased supply from the unlock, the price bounced off key support near $0.52 and has held gains well above that level. Over the past month, ENA gained almost 134% and is up 116% year-over-year, indicating strong momentum.
Trading Volume and Open Interest
The volume has risen sharply by 28% to approximately $1.14 billion, with Open Interest in futures increasing over 17%, signaling heightened market activity and trader interest. Derivatives data also shows a positive buy-sell delta of $4.63 million, suggesting accumulation and positive sentiment despite selling pressure from the token unlock.
Long/Short Ratio and Sentiment
While explicit long/short ratio data is not directly given, the rise in Open Interest combined with price gains and positive buy volume indicates more bullish positioning. The Fear & Greed index stands at a neutral 54, reflecting balanced market psychology but leaning slightly bullish.
Technical Indicators
Price action shows strong support levels at $0.56, $0.55, and $0.53, with resistance zones near $0.60, $0.62, and $0.64. Analysts highlight a "golden cross" (a bullish moving average crossover) and significant whale accumulation (holders of 10 million to 1 billion ENA tokens collectively storing 6.3 billion ENA), further supporting a bullish technical setup.
Stochastic RSI & Chaikin Money Flow
Specific current values for Stochastic RSI and Chaikin Money Flow (CMF) are not explicitly provided in recent reports. However, the rising volume, accumulation, and price recovery after the unlock imply favorable momentum (Stochastic RSI likely in an oversold to neutral bullish range) and positive money flow (suggesting buying pressure on CMF).
Short-Term Forecast
Despite the strong recent rally, some price models predict a near-term correction of around -23% to about $0.46 in 5 days due to potential profit-taking or supply pressure. Conversely, sustained momentum, whale buying, and rising open interest could drive ENA toward $0.68–$0.70, and potentially up to $1 in the medium term if bullish conditions hold.
In Summary
ENA is currently demonstrating signs of strong resilience and bullish momentum with elevated trading volume and futures interest, supported by whale accumulation and technical strengths like the golden cross. However, some short-term correction is possible, so monitoring key support/resistance levels and volume dynamics is crucial to confirming sustained upward movement.
Additional findings include a positive Chaikin Money Flow for Ethena since flipping 48 hours ago, indicating strengthening upward momentum backed by strong demand for Ethena. The futures market for Ethena has shown increased activity, as evidenced by the rise in Open Interest on CoinGlass. Exchange activities indicate increased buying activity, as Spot Netflow remained negative for eight consecutive days on CoinGlass, with -$123K recorded most recently. If the buying momentum holds, Ethena could retest $0.68 and target $0.70. At press time, ENA has increased 13.17% to $0.622, backed by a 28% increase in volume to $1.14 billion. The Long/Short Ratio among accounts and top traders on Binance is 1.95 and 2.09, respectively, indicating a strong bias towards long positions. The 24-hour Long/Short Ratio for Ethena is 1.0008. If demand fades, support around $0.55 may come into play for Ethena. Coinalyze data shows a shift in Buy Volume over Sell Volume, with $46.99 million in Buy Volume versus $42.3 million in Sell Volume over the past day. The Stochastic RSI for Ethena surged to 18 after making a bullish crossover, suggesting favorable momentum, and the Long/Short Ratio is above 2, indicating traders expect an upside of $0.68-$0.70.
- I'm considering investing in Ethena (ENA) after observing its strong resilience and bullish momentum, as demonstrated by the 13% surge in price and increased trading volume on cryptocurrency exchanges.
- The positive Chaikin Money Flow and the strong long/short ratio among accounts and top traders on Binance suggest that ENA has the potential to reach $0.68–$0.70 in the short term, given the buy volume and favorable Stochastic RSI momentum. However, it's essential to monitor key support levels and volume dynamics to confirm sustained upward movement.
