The Ethena (ENA) network witnessed a remarkable movement after 1.59 billion ENA worth 443.33 million was converted by major investors, in a move that often reflects clear confidence and positive expectations towards the project. This move was accompanied by buyers defending demand areas, confirming continued buying interest at lower levels.
🟢 Whenever the price returns to the accumulation area, positive interaction from the market is observed, indicating that sellers are no longer in control and buyers are steadily advancing.
📊 Trader sentiment.. Are eyes turning towards buying?
Market data indicates a significant rise in long positions to 71.67% versus 28.33% for short positions, marking an important shift after a period of hesitation.
🔸 The long/short ratio reaching 2.53 reflects true conviction and not just speculation, especially since ENA often reacts strongly at the beginnings of bullish reversals.
With improved technical conditions, traders are moving according to the actual price direction rather than temporary momentum, supporting the continuation of the rise.
📈 Important technical breakout.. Is the bullish expansion starting?
The price of ENA has exited a long-term downward channel after a clear stabilization within the demand zone, giving buyers a structural advantage not seen for months.
🟢 Every downward attempt faced strong defense, forming a strong reversal base that could pave the way for a new upward wave.
📌 Breaking my resistances 0.300 and 0.3462 and turning them into support may open the door for a bullish extension that could reach 191% based on the current structure.
🔺 The strength of the trend is confirmed by the DMI indicator which shows buyers overcoming, while the rising ADX indicates that the trend is gaining strength and is not merely a temporary rebound.
📍 Increasing interest in financial derivatives
The open trading volume increased by 3.90% to reach 358.85 million, revealing a significant return of derivatives traders with ENA breaking the previous structure.
⚡ Leverage remains within a safe range, yet its continuous growth reinforces trend stability and supports price movement upwards.
Additionally, the increase in open contracts near breakout areas often forms additional liquidity that supports strong moves, especially with an increase in buying positions.
🐋 Buyer dominance.. Until when?
The CVD indicator shows a clear buying advantage, as active buyers continue to dominate the market, in a scenario that often repeats at the beginning of trend changes.
🟢 This behavior, along with the accumulation of whales and the increase in long positions, reflects genuine demand and not just a fleeting speculative rise.
Despite the likelihood of short corrections, buying strength maintains market structure and supports the continued gradual upward trend towards higher levels.
🏁 Summary of the technical picture for ENA
Current indicators are favorable for Ethena (ENA) in terms of:
✨ Technical breakout
✨ Improvement in DMI and rising ADX
✨ Open trading growth
✨ Dominance of buy orders and accumulation of major investors
📌 If buyers maintain the demand zone and the price regains the level of 0.300 as a support level, the path may be paved for further rises and targeting higher levels in the upcoming period.
