🚀 Ethena Surges 13% – ENA Eyes $0.68 as Key Support Holds Strong

Ethena (ENA) just ripped past a 13% gain—now traders are eyeing $0.68 if bullish momentum holds. Here's the breakdown.

The Rally Nobody Saw Coming

ENA's sudden pump defies the usual crypto grind—no major news, just pure speculative frenzy. Classic.

The Make-or-Break Level

All hinges on whether ENA defends its current support. Fail here, and the rally’s just another 'dead cat bounce' in the crypto graveyard.

Wall Street’s Watching (But Won’t Admit It)

Institutional desks are quietly stacking ENA while publicly dismissing it as 'too volatile.' Hypocrisy? In finance? Shocking.

Bottom line: This ain’t financial advice, but if you’re not watching ENA’s chart right now, you’re asleep at the wheel.

Key Takeaways

Ethena jumped 13% to $0.622, backed by rising volume, a positive Buy-Sell Delta, and 17% Open Interest growth. Long/Short Ratio above 2 indicates that traders are eyeing an upside of $0.68–$0.70 next.

Ethena [ENA] surged 12.9% to a local high of $0.628 after holding $0.51 support.

At press time, it was trading at $0.622, up 13.17% on the day, backed by a 28% volume increase to $1.14 billion, signaling renewed demand.

Ethena buyers flip the delta

After the broader market retraced, buyers took a step back from the market. As such, Ethena recorded a week of negative Buy-Sell Delta. 

But, Coinalyze data showed $46.99 million in Buy Volume versus $42.3 million in Sell Volume over the past day, flipping the delta positive by $4.63 million. This shift suggests renewed spot accumulation.

Source: Coinalyze

At the same time, exchange activities signaled increased buying activity. 

According to CoinGlass, Spot Netflow remained negative for eight consecutive days, with -$123K recorded most recently. This sustained outflow points to coins moving off exchanges—often a precursor to holding behavior.

Source: CoinGlass

Futures market heats up

AMBCrypto’s analysis of the derivatives market found that these buyers rushed into the Futures market to take strategic positions. 

According to CoinGlass, Ethena’s Open Interest jumped 17.47% to $1.14 billion, while Derivatives Volume hiked 46.24% to $3.5 billion.

This tandem rise reflects both capital inflow and aggressive positioning.

Source: CoinGlass

Meanwhile, ENA’s 24-hour Long/Short Ratio hit 1.0008.

On Binance, the ratio was even more skewed—1.95 among accounts and 2.09 among top traders, indicating that market participants are mostly betting long.

ENA’s momentum signals stay green

Ethena rallied as buyers returned to the market to accumulate the altcoin. As a result, Stochastic RSI surged to 18 from 5 after making a bullish crossover.

At the same time, the alctoin’s Chaikin Money FLOW has remained within positive territory since flipping 48 hours ago, further confirming the presence of buyers.

When these indicators are set like this, they signal a strengthening upward momentum backed by strong demand.

Source: TradingView

If this buying momentum holds, ENA could retest $0.68 and target $0.70. But if demand fades, support around $0.55 may come into play.