**📈 Ethena ($ENA ) – Surge Mode Activated, But Time to Dial In?**

ENA is trading around $0.46, having surged nearly +17% today and +40% over the past week. The breakout came after Upbit launched ENA/KRW, ENA/BTC, and ENA/USDT pairs, and Arthur Hayes added ~4.2M ENA to his holdings.

Under the hood, ENA backs USDe—a synthetic, delta-neutral dollar—earning yield via perpetual futures basis trades. It’s now the 3rd largest protocol in synthetic stablecoins, though funding-rate drops could pose systemic risk.

Technically, indicators flash STRONG BUY, but RSI (~76) and greed/fear signal ~72 warn of a short-term cooldown. A solid entry zone is $0.407–0.410 (after a candlestick confirmation), stop under $0.397, aiming for $0.415 → $0.42 → $0.43.

For those eyeing dips, a pullback to $0.35–0.38 may offer better risk/reward—but manage positions tightly. ENA’s fundamental model is unique, but volatility remains high.

If you're trading this wave—plan your entries, size smart, and keep an eye on on-chain yield/security shifts.

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