Can ENA Hit $1 Without Whale Backup? 🐋💸

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“Ethena, darling, you’ve been climbing faster than a socialite on a stepladder-31% in a week to hit $0.855! Strong network adoption, retail-led buying, and bullish technicals have all played their part in this little drama. Bravo!”

Ah, Ethena [ENA], the crypto equivalent of a diva at a garden party, surged by 30.98% over the past week. It leapt from $0.51 to a dazzling 7-month high of $0.855. Monthly and yearly charts? Oh, they’re positively glowing with gains of 143% and 152%, respectively. At press time, ENA was trading at $0.8086, up 9.05% in just 24 hours. Rising network activity, positive sentiment, and steady capital inflows have all conspired to keep this show rolling. Naturally, traders are now whispering about the next act in this Ethena price cycle. Will it be a standing ovation or an awkward curtain call? 🎭

Network Adoption: The New Social Climber 📈

Santiment’s data revealed that Ethena has been logging positive Price DAA Divergence for seven straight days. A sustained positive DAA Divergence, darling, is like finding a designer handbag at a thrift store-rare and delightfully promising. It signals strengthening fundamental demand, especially as network usage and engagement grow. In such cases, the asset is often undervalued relative to network activity, which usually means there’s more room for upside. How thrilling! 😍

At the time of writing, the on-chain profitability seemed to agree. The ratio of transactions in profit to loss stood at 4.16, with 75.38 million transactions in profit versus 18.08 million in loss. My dear, if that isn’t a sign of good fortune, I don’t know what is. 💰

Whales on Holiday? 🐳🌴

Surprisingly, despite the price uptick, Ethena whales seem to have gone on an extended vacation-or perhaps they’re simply too busy sipping margaritas to care. CryptoQuant’s Spot Average Order Size data hinted at a total whale absence in the spot market. Can you imagine? Not a single Big Whale Order in the past 30 days! And the Futures Average Order Size data mirrored this lack of large positions. Truly, it’s as if the whales have decided to take a collective nap. 😴

The same pattern can be seen in the Futures market, where whales took a step back-a sign of less speculative activity from large entities. When whales retreat, it reflects a cautious approach, as though they’re waiting for the perfect moment to make their grand entrance. Or perhaps they’re just binge-watching Netflix. Who knows? 🍿

Retail Traders: The Unsung Heroes 🛒🦸‍♂️

Finally, let us applaud the unsung heroes of this tale: retail participants. According to Coinalyze, Ethena recorded three days of consecutive Buy-Sell Delta. At press time, ENA saw 84.2 million in Buy Volumes compared to 75 million in Sell Volumes. As a result, the spot market enjoyed a positive Buy-Sell Delta of 8.33 million-a slight hike from 8.09 million the previous day. A positive Delta, my dears, is like a well-timed wink-it suggests higher buying pressure and often precedes higher prices. How utterly delightful! 😉

Price Prediction: A Tale of Two Outcomes 🎢

Ethena (ENA) recently bounced off its recent low of $0.55 and successfully defended the $0.60-support level. Shortly after, the price soared, with the Parabolic SAR dipping below price candles. When prices flip above the SAR, it means buyers are in control, and the upward momentum may be strong. Moreover, the Stochastic RSI surged to 85.37-further confirming the buyers’ presence. How very invigorating! 🚀

If buyers can keep the price above $0.70, a push towards $1 may be plausible. However, failure to hold this zone could drag ENA back to $0.55. Oh, the suspense! Will ENA rise to the occasion, or will it stumble like a debutante in stilettos? Only time will tell, darlings. ⏳

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2025-08-12 02:34