Ethena (ENA) Exhibits Bullish Cup-and-Handle Pattern on Binance Amid Whale Activity

Ethena’s ENA token is showing a promising cup-and-handle technical formation, suggesting potential upside targets of $0.8049, $1.0849, and $1.395 despite recent market volatility. The token, currently trading at $0.3535 with a market capitalization of $2.05 billion and $346 million in daily volume, has drawn attention due to significant whale activity on Binance. Notably, 12.16 million ENA were recently unstaked and moved to Binance, likely representing a closed short position that incurred $817,000 in losses. This development highlights both the token’s volatility and its underlying bullish potential as traders reposition their strategies.

Ethena (ENA) Shows Bullish Pattern Amid Market Volatility

Ethena’s ENA token exhibits a promising cup-and-handle formation, signaling potential upside targets of $0.8049, $1.0849, and $1.395 despite recent price turbulence. The pattern emerges as the asset trades at $0.3535 with a $2.05 billion market capitalization and $346 million daily volume.

Recent whale activity saw 12.16 million ENA unstaked to Binance, likely representing a closed short position with $817,000 in losses. This MOVE coincides with ENA’s 7.83% daily decline and 17.51% weekly drop, contrasting sharply with its strong monthly performance.

Technical analysts note the $0.2315 level serves as critical support, with a breach potentially invalidating the bullish setup. Market participants watch Binance order flows closely for confirmation of the anticipated breakout.

PEPE Coin Price Eyes Bullish Momentum Amid Heavy Derivatives Play

Whale activity is driving renewed interest in PEPE, with a single entity scooping up 1.79 trillion tokens worth $22 million from Binance. This substantial purchase has tightened supply and ignited market speculation.

Derivatives markets are flashing bullish signals, with PEPE’s open interest surging 13.34% to $536.35 million. The frog-themed memecoin has demonstrated historical strength in May, averaging 82.3% returns and already notching 40.4% gains month-to-date.

Technical indicators suggest potential upside toward $0.000018, supported by whale accumulation and short position liquidations. The combination of rising volume, open interest, and historical seasonal patterns paints an optimistic picture for PEPE’s near-term trajectory.