$ENA is moving through a powerful phase and the deeper I look into the flows the clearer the picture becomes. Ethena Labs isn’t just supporting the market they’re aggressively pulling supply off exchanges. Their recent buy of twenty five million ENA and the massive seven hundred seventy nine million stack they already hold shows real confidence not talk. Add StablecoinX holding more than two billion ENA and sitting on healthy profit and it becomes obvious the team believes strongly in the next leg.
Whales are matching that energy. Large orders have been sweeping in for days and the balance change across top wallets is firmly positive. Net outflows across exchanges confirm this is accumulation not distribution. When this kind of synchronized buying happens supply tightens quickly and ENA usually responds with upward momentum.
Price respected the 0.255 support perfectly and the move up to 0.28 before cooling at 0.27 shows buyers aren’t letting go. Technicals are leaning bullish too with the vigor index flipping upward and the SAR sitting comfortably around 0.2423 offering safety. If this pressure continues ENA can retest 0.30 and that level becomes the next big decision point. If momentum fades a dip toward SAR support is possible but the overall tone still favors strength.
ENA at 0.2689 looks calm but the demand underneath is building. This combination of team buying and whale accumulation is rare and usually marks the start of a sustained trend. Stay alert the next breakout attempt might come sooner than people expect.
