Ethena Whales Stake 40 Million ENA as Price Eyes $0.098 Breakout
- Whale staked 40 million ENA, reducing liquid supply and boosting market confidence.
- Technical indicators support bullish momentum with $0.098 emerging as the next target.
- Holding above $0.09 remains crucial to maintain the current bullish outlook.
Ethena — ENA, continues attracting attention after defending a key support level and extending recent gains. Strong buying interest has pushed ENA close to another important resistance zone. Fresh whale activity has added more optimism after millions of tokens moved into staking instead of remaining available for sale. That shift has strengthened market confidence, while technical indicators continue supporting a bullish outlook. The next few trading sessions could determine whether ENA reaches another local high.
Whale Staking Strengthens Market Confidence
Ethena has maintained steady momentum after holding the $0.078 support level earlier this week. Buyers quickly returned, lifting ENA to a local high near $0.094 before a modest pullback. At the time of writing, ENA trades around $0.093. Daily gains stand near 3.7%, while weekly returns exceed 10%. Trading volume has also climbed 9.5% to roughly $146 million. Higher volume often reflects stronger participation from both retail and institutional traders.
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