- ENA trades at $0.3535 with a $346M turnover and $2.05B market cap amid volatile conditions.
- Short-term performance shows a 7.83% daily drop and 17.51% weekly loss despite strong monthly gain.
- A bullish “cup-and-handle” suggests a breakout with targets of $0.8049, $1.0849, and $1.395, with a stop-loss of $0.2315.
- Whale unstaked 12.16M ENA to Binance, likely closing short with an $817K loss, impacting market sentiment.
At the current market overview, cryptocurrency ENA is valued at about $0.3535, with its 24-hour trading turnover amounting to $346.14 million and its market capitalization at about $2.05 billion.
Although its prices have changed considerably over their short tenure together, ENA’s short-term performance gives a different image. Within the last 24 hours alone, ENA experienced a decline of just about 7.83%, with a greater decline over the week, logging a fall of 17.51%.
But the monthly chart indicates strong growth as ENA’s price jumped by a staggering 23.89%, indicating building momentum that could induce further upward movement in the short term. This contrast in price action highlights sensitivity to volatility and outside markets and hints at latent upward potential.
ENA Bullish Continuation Signals And Targets
A technical analysis recently posted on TradingView by Rose Premium Signals shows a typical cup-and-handle formation on the daily chart from mid-2024 up to May 2025.
This structure, normally typical of bullish continuation, charts ENA’s fall from $1.40 during July 2024 to a low point close to $0.2315 during December 2024. It then describes a subsequent rally to around $0.8049 during March 2025, followed by a resting period referred to as the “handle,” with an intended long entry point near $0.2315 during May 2025.
Targets based on this pattern are $0.8049, $1.0849, and $1.395, predicting big returns of over 300% from entry. Stop-loss risk management is suggested at $0.2315.
Whale Investor Unstakes 12.16M Tokens
About six hours ago, a prominent whale investor known as “0xb7d” took significant action by unstaking and transferring 12.16 million coin tokens, valued at approximately $4.42 million, to the Binance exchange. This action signals a strategic choice to sell a major portion of their investments.
This trade is most likely closing out a three-month short in ENA by the whale with an approximate loss of $817,000, equivalent to about 13.1%. Such large moves by large holders have their own significant consequences on sentiment and short-term price action.
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