This $100 Million Event Could Crash Ethena (ENA) Price on August 5
- ENA’s $100M unlock and exchange inflows may trigger short-term sell pressure.
- Price consolidates between $0.580–$0.620 with bullish bias toward breakout.
- Rising volume contrasts weakening MACD, hinting at possible near-term correction.
Ethena (ENA) is approaching a key event with a $100 million token unlock scheduled for August 5. This unlock will release 2.7% of its total supply into the market, a significant event that could impact the price. Adding to the tension, 250 million ENA tokens, worth about $154 million, have already been moved to exchanges over the last two weeks, hinting at potential sell pressure.
With the current price resting at $0.6121, up over 10% in 24 hours, all eyes are on whether this bullish momentum can hold or if a correction is near.
Price Structure Points to Consolidation with Bullish Bias
ENA’s price is currently trading in a tight range, showing a mix of consolidation and upward pressure. Strong support levels have formed at $0.552 and between $0.580 to $0.585, zones that have seen quick rebounds and point to strong buyer interest.
On the resistance side, the $0.620 mark remains a tough ceiling. The token has been …
The post This $100 Million Event Could Crash Ethena (ENA) Price on August 5 appeared first on Coin Edition.
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This $100 Million Event Could Crash Ethena (ENA) Price on August 5
- ENA’s $100M unlock and exchange inflows may trigger short-term sell pressure.
- Price consolidates between $0.580–$0.620 with bullish bias toward breakout.
- Rising volume contrasts weakening MACD, hinting at possible near-term correction.
Ethena (ENA) is approaching a key event with a $100 million token unlock scheduled for August 5. This unlock will release 2.7% of its total supply into the market, a significant event that could impact the price. Adding to the tension, 250 million ENA tokens, worth about $154 million, have already been moved to exchanges over the last two weeks, hinting at potential sell pressure.
With the current price resting at $0.6121, up over 10% in 24 hours, all eyes are on whether this bullish momentum can hold or if a correction is near.
Price Structure Points to Consolidation with Bullish Bias
ENA’s price is currently trading in a tight range, showing a mix of consolidation and upward pressure. Strong support levels have formed at $0.552 and between $0.580 to $0.585, zones that have seen quick rebounds and point to strong buyer interest.
On the resistance side, the $0.620 mark remains a tough ceiling. The token has been …
The post This $100 Million Event Could Crash Ethena (ENA) Price on August 5 appeared first on Coin Edition.
Read More
Arthur Hayes Boosts ENA Holdings as Binance USDe Listing Sets Stage for Buybacks