Ethena price prediction: can ENA hold $0.085 after $26.4M whale wallet transfer?
- Ethena (ENA) is testing critical support at $0.085.
- A 290M ENA wallet transfer raised selling concerns.
- Bitcoin's next move could determine ENA's direction.
Ethena is back in focus after a large wallet transfer drew attention at a time when the token is already testing a crucial price level.
While the transfer sparked concerns about potential selling pressure, the broader market reaction has remained measured.
ENA tests key support as whale transfer attracts attention
Ethena was trading at $0.08695, down 2.4% over the past 24 hours, after moving between $0.08530 and $0.09125 during the session.
Although the daily decline has put pressure on the token, ENA is still up 8.3% over the past seven days and 11.1% over the last two weeks, showing that it has recovered part of the losses recorded earlier this year.
The latest market attention came after a wallet linked to Ethena's Coinbase custody holdings transferred approximately 290 million ENA, valued at about $26.4 million, to another wallet that has previously interacted with cryptocurrency exchanges.
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